Banknifty structure & Trade Plan 06th August

📊 Bank Nifty Market Structure Analysis

🔎 Higher Timeframe (4H)

Trend: Clear bearish structure with lower highs and lower lows.

Key Supply Zones:

56,300–56,400: Strong supply zone from previous OB rejection.

55,900–56,000: Minor supply created after last BOS.

Support Zone:

55,150–55,250: Major demand block aligned with liquidity sweep.

Price tapped into 55,300 zone today, showing minor bounce.

🔎 Mid Timeframe (1H)

Price rejected from the green demand zone around 55,300–55,400.

No strong BOS to the upside yet → indicates bounce may be corrective.

Liquidity remains uncollected below 55,150, increasing risk of further downside.

🔎 Lower Timeframe (15M)

Attempted bounce with small bullish candles.

Price consolidating inside the 55,300–55,500 band.

No strong follow-up volume from buyers → looks like a pause before next leg.

📌 Trade Plan for 6th August (Bank Nifty)

🎯 Bias: Bearish to Neutral

Until a confirmed BOS above 55,900, the trend remains bearish.

🔻 Short Setup

Entry Zone: 55,550–55,650 (retest of intraday supply).

Stop Loss: Above 55,700.

Targets:

T1: 55,200

T2: 55,000 (extension into liquidity zone).

🔼 Long Setup (Counter-Trend, Risky)

Only if price retests 55,150–55,200 and shows bullish reversal candle.

Entry: Near 55,200 demand zone.

Stop Loss: Below 55,100.

Targets:

T1: 55,550

T2: 55,850.

⚠️ No-Trade Zone

Between 55,350–55,500 (current consolidation band).

Avoid entering here → wait for breakout confirmation.

✅ Summary:

For tomorrow, best trade is short from supply zone near 55,600 for continuation to 55,200–55,000. Longs only if we see a strong reversal wick from 55,150.