Sensex Analysis for 04th March 2026BSE Sensex IndexBSE:SENSEXsimpletradewithpatience📊 Sensex Analysis for 04th March 2026 (Simple Chart Reading) CMP: 80,238 Current Structure: Downtrend on daily chart with sharp recent breakdown Market Mood: Bearish bias with intraday bounce attempts Sensex is currently trading below key resistance levels after a strong downward move from higher supply zones near 82,700–83,300. The daily chart reflects a sequence of lower highs, and the recent wide bearish candle indicates selling pressure expansion. Immediate resistance is placed near 81,066, followed by 81,893 and 83,155. A major supply zone remains positioned between 82,785 and 83,347. On the downside, immediate support is visible near 78,977, followed by 77,716 and 76,888. The sharp fall towards the 78,689 swing low suggests volatility expansion, while the ongoing intraday recovery reflects short-term bounce attempts within a weak structure. For intraday reference, support levels are placed near 78,977, 77,716 and 76,888. Resistance levels are seen near 81,066, 81,893 and 83,155. The immediate supply zone lies between 82,412 and 82,785, while stronger resistance remains near 83,155–83,347. If the market sustains above 81,066, price may attempt to move towards 81,893. If buying strength improves further, extension towards 82,412–82,785 may be possible. However, selling pressure may reappear inside this supply band, and stronger rejection may develop near 83,155–83,347. Failure to sustain above 81,066 may keep the broader bias weak. If price weakens below 78,977, it may move towards 77,716, and if selling pressure increases, towards 76,888. A bounce may emerge near these support zones, but continuation would depend on how price reacts near 81,066 on recovery. In case of a sideways session, price may oscillate between 78,977 and 81,066 as the immediate band. An extended range may stretch from 77,716 to 81,893. Inside this range, breakouts may lack follow-through unless supported by strong participation. Observationally, if price sustains above 83,347, higher reference zones may appear near 84,000 and 85,000 where reaction patterns may develop. On the downside, if price slips below 78,689, further reference levels may emerge near 78,000 and 77,000 where support behaviour can be monitored. Overall, the daily structure remains weak below 81,893–82,785. Immediate support lies near 78,977, while stronger supply remains positioned above 82,700. A clearer directional move may develop once price sustains beyond either side of this broader range. STWP View: Bias remains cautious below 81,893. Upside possibilities may improve only if price sustains above 82,785–83,155. Downside pressure may increase below 78,977. Early session behaviour near resistance zones may provide clues regarding continuation or reversal. ⚠️ Disclaimer This post is intended solely for educational and informational purposes. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market investments are subject to risk. Please consult a SEBI-registered financial advisor before making any investment decisions. STWP is not responsible for actions taken based on this analysis.