Banknifty Spot chart analysis for 16.08.2022

Banknifty standing below an extremely strong resistance of 39108.

if banknifty crosses over 39108 then it may reach to the level of 39301. between 39108 to 39301 is
also a strong retracement zone.

between 39108 to 39301 is also an extremely strong resistance zone.

If Bank Nifty crosses over 39301 then it may reach to the level of 39483.

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 39632 tomorrow and reach higher levels.

it is highly unlikely that banknifty will cross 39632 tomorrow and reach higher levels.