Higher-timeframe structure study — not a directional forecast
🔹 CONTEXT
Following a strong advance, SENSEX has entered a corrective environment similar to NIFTY. Despite intermittent volatility, the broader structure continues to suggest digestion rather than reversal.
🔹 STRUCTURE SNAPSHOT
• Higher-degree trend: intact
• Nature of current phase: time-based / overlapping
• Impulse vs correction: corrective structure dominant
• Confirmation status: absent
🔹 STRUCTURAL ALIGNMENT WITH GIFT NIFTY
• SENSEX price behaviour closely mirrors GIFT NIFTY’s post-impulse phase
• No structural divergence between cash and futures indices
• Both indices remain within rising channels without impulsive expansion
• This reinforces the view that the market is correcting through time, not price
🔹 WHAT IS HAPPENING NOW
Recent price action remains range-bound and overlapping. Attempts to push higher lack impulsive follow-through, while declines fail to show acceleration — a common signature of higher-degree corrective phases.
🔹 WHAT IS NOT HAPPENING
• No confirmed trend reversal
• No impulsive breakdown
• No higher-timeframe momentum expansion
• No structural divergence from GIFT NIFTY
🔹 KEY STRUCTURAL ZONES (SENSEX – REFERENCE ONLY)
Resistance / Supply Zone
• 86,000 – 86,160
• Prior swing high + upper channel region
• Requires impulsive acceptance to negate correction
Pivot / Balance Zone
• 82,700 – 82,130
• Structural midpoint
• Holding above keeps correction time-based
Support Zone
• 80,600 – 79,740
• Major higher-timeframe demand region
• Loss of this zone would increase odds of a deeper corrective leg
🔹 RSI CONTEXT
• RSI oscillating between 45–60
• No bullish momentum expansion
• No bearish breakdown
• Momentum behaviour remains corrective
🔹 CONCLUSION
SENSEX continues to confirm the broader NIFTY structure — a time-based corrective phase following a completed advance. Until structural expansion occurs, this phase should be treated as consolidation within a larger framework.
🔹 DISCLAIMER
This analysis is for educational purposes only. It is not investment advice.
#NIFTY #SENSEX #MarketStructure #ElliottWave #TimeBasedCorrection
#IndianMarkets #PriceAction #InstitutionalView #MarketCycles
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