Banknifty Spot chart analysis for 22.08.2022

Banknifty standing inside an extremely strong resistance of 39108.

if banknifty crosses over 39108 then it may reach to the level of 39301.

between 39301 to 39483 is also an extremely strong resistance zone.

If Bank Nifty crosses over 39483 then it may reach to the level of 39632.


if banknifty crosses down below 38947 then it may reach to the level of 38781, 38781 is a strong support.

if banknifty crosses down below 38781 then it may also cross 38608 and will reach to the level of 38404.

If banknifty crosses down 38404 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 39637 tomorrow and reach higher levels.