Banknifty spot chart analysis for 31.10.2022

Banknifty standing just below a strong resistance zone of 40878 to 41062

if banknifty crosses above 41062 then it may also cross above 41256 and may reach to the level of 41421.

between 41421 to 41579 is also an extremely strong resistance zone .

If Bank Nifty crosses over 41579 then it may reach to the level of 41733 .


if banknifty moves down below 40878 then it may also cross 40717 and may reach to the level of 40564.

between 40564 to 40442 is a strong support zone .

If banknifty crosses down 40442 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 41733 tomorrow and reach higher levels.