price action resistance level ( without much of indicators)

• this is an idea about how to prepare a view on various stocks of an index , based on the index price-action analysis ,
  
  
• here we have a bearish view on the SIXB index , based on the behaviour of price-action of
  recent candles ( 3h) . 3H is taken for having lesser clutter on charts and also have smaller time ( lesser than 1D candle ) frame view .
  

there is a strong resistance level visible, which has created a selling pressure twice , which created two lower lows .

and as the prices reached this resistance level , it started wobbling up-down , which shows the confusion and two forces acting on the prices ( bull and bears ). ( when the market moves swift and clean , it shows majority of the market players are in agreement of same direction )

here the prices are the resistance level as already seen , and now to take a trade here in the index or index constituents , we need a confirmation of breach of trendline, and prices plotting lower highs and lower lows .

the trade target becomes the first recent support level or cluster of supports ( dotted yellow line ) approx. 4% target

invalidation of this view , or stop loss is also market few pips above the recent top ( which is weaker top ) approx. 2% stop loss

risk to reward : 1 :2

further breaking down the analysis for the bearish view is :
observe the number of candles prices could sustain above the resistance level , very few .. and every time it managed to breach the resistance level it created a LOWER LOW .. which is much much significant thing to note.

and if the trendline is breached now , we can expect a newer lower low which comes to beyond the current cluster of supports as well .

based on this view on the index , one needs to check for the confluence in the major constituents of the same index being discussed . if you find the confluence between the index and the constituent , go on with the trade ...

and if you don't find the confluence then that scrip becomes the candidate for further investigation which is beyond technical analysis ( like financial , fundamental analysis )
Major constituents of the index

LIN
SHW
NEM
VMC
MLM
APD

this is just a tutorial for analysing price action , without much use of indicators , for basic starter traders . joining 2-3 blocks of such analysis gives a more robust picture ( some price action , some indicators , and some stock comparison )
hope this helps !