BANKNIFTY - 15 MIN - FOR 04/03/2022 TRADE SETUP

Hello Traders,

So far this week had 3 trading sessions with DESCENDING daily CPR.

Also during 3 sessions price is below the WEEKLY PIVOT.

**35620** is very IMPORTANT LEVEL.

--> On 1st session it took support at important level ( 35620 ).

--> And remaining 2 sessions it faced RESISTANCE at that level ( 35620 ).

--> Price can't Break the WEEKLY SUPPORT S1 for previous 2 trading sessions.

1) If price gives a BULLISH sign at WEEKLY SUPPORT S1 we can go LONG.

TARGET - 35620.

2) If price BREAKS the WEEKLY SUPPORT S1 and RETEST it, Then we can SHORT.

TARGET - 34426. ( NEAREST level which can act as SUPPORT )

*****NOTE : If price opened tomorrow with a GAP UP or GAP DOWN trade setup will differ but the IMPORTANT LEVEL are same.*****

3) On march 2nd we had a VIRGIN CPR - that can also act as a STRONG RESISTANCE or SUPPORT.

Do comment your thoughts ...

Thank you <3