Banknifty spot chart analysis for 01.09.2022

Banknifty standing inside in a strong resistance zone of 39632 to 39798.

if banknifty crosses above 39798 then it may also cross above 39954 and may reach to the level of 40120.

between 40120 to 40276 is also an extremely strong resistance zone.

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


if banknifty crosses down below 39483 then it may reach to the level of 39301, 39301 is a strong support.

if banknifty crosses down below 39301 then it may also cross 39108 and will reach to the level of 38947.

If banknifty crosses down 38947 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 40442 tomorrow and reach higher levels.