Banknifty Spot chart analysis for 05.08.2022

Banknifty standing at a strong resistance of 37847.

if banknifty moves above 37847 then it may reach to the level of 38023.

between 38023 to 38209 is also an extremely strong resistance zone.

If Bank Nifty crosses over 38209 then it may also cross 38404 and may reach to the level of 38608.

if banknifty crosses down below 37648 then it may also cross 37521 and may reach to the level of 37382.

if banknifty crosses down below 37382 then it may take support on 37225, 37225 is a strong support.

If banknifty crosses down 37225 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 38608 tomorrow and reach higher levels.