Banknifty Spot chart analysis for 12.08.2022

Banknifty standing below strong resistance of 38947..

if banknifty crosses over 38947 then it may reach to the level of 39108.

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

If Bank Nifty crosses over 38781 then it may reach to the level of 38947.

if banknifty crosses down below 38781 then it may reach to the level of 38608, 38608 is a strong support.

if banknifty crosses down below 38608 then it may also cross 38407 and will reach to the level of 38209.

If banknifty crosses down 38209 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 39500 tomorrow and reach higher levels.