Banknifty Spot chart analysis for 17.08.2022

Banknifty standing inside an extremely strong resistance zone of 39108 to 39301.

if banknifty crosses over 39301 then it may reach to the level of 39438. between 39301 to 39483 is
also an extremely strong resistance.

between 39301 to 39483 is also an extremely strong resistance zone.

If Bank Nifty crosses over 39483 then it may reach to the level of 39632 and then 39798.

if banknifty crosses down below 39108 then it may reach to the level of 38947, 38947 is a strong support.

if banknifty crosses down below 38947 then it may also cross 38781 and will reach to the level of 38608.

If banknifty crosses down 38608 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 39793 tomorrow and reach higher levels.