Market Structure:
Price is moving inside a rising channel (bullish context), but currently in a pullback phase after rejecting the upper boundary.
Key Zones
Support Zone: 4515 ā 4519
Strong base + multiple rejections ā acting as demand
Entry Zone: ~4519
Price is consolidating here ā potential accumulation
Stop Loss: 4499
Below structure + channel support (good protection)
Target: 4570 ā 4571
Near previous highs / channel top
What Price is Doing
After a strong bullish impulse, price formed a correction + liquidity sweep
Now showing sideways compression above support
Indicates buyers absorbing selling pressure
Expected Move
Short-term: Possible minor dip / fake breakdown into support
Then: Strong bullish expansion
Your marked projection (red path) is valid:
Small retracement
Break of intraday resistance
Continuation to target
Trade Idea
Bias: BULLISH
Buy from: 4515 ā 4520 zone
SL: Below 4500
TP: 4570+
Confirmation Signals to Watch
Bullish engulfing from support
Break + hold above 4535ā4540
Increasing momentum candles
Risk Note
If price breaks and holds below 4500, structure fails ā bullish setup invalid.