Banknifty spot chart analysis for 05.09.2022

Banknifty standing inside in a strong resistance zone of 39301 to 39483.

if banknifty crosses above 39483 then it may also cross above 39632 and may reach to the level of 39798.

between 39798 to 39954 is also an extremely strong resistance zone .

If Bank Nifty crosses over 39954 then it may reach to the level of 40120.


if banknifty moves down below 39301 then it may reach to the level of 39108, 39108 is a strong support.

if banknifty crosses down below 39108 then it may also cross 38947 and will reach to the level of 38781.

If banknifty crosses down 38781 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 40120 tomorrow and reach higher levels.