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
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
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