Banknifty Spot chart analysis for 19.08.2022

Banknifty standing inside an extremely strong resistance zone of 39632 to 39798.

if banknifty crosses over 39798 then it may reach to the level of 39954.

between 39954 to 40120 is also an extremely strong resistance zone.

If Bank Nifty crosses over 40120 then it may reach to the level of 40276 and then 40442.

if banknifty crosses down below 39632 then it may reach to the level of 39483, 39483 is a strong support.

if banknifty crosses down below 39483 then it may also cross 39301 and will reach to the level of 39108.

If banknifty crosses down 39108 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 40267 tomorrow and reach higher levels.