Banknifty Spot chart analysis for 08.08.2022

Banknifty standing inside a strong resistance zone of 337847 to 38023.

if banknifty crosses above 38023 then it may reach to the level of 38404.

between 38404 to 38608 is also an extremely strong resistance zone.

If Bank Nifty crosses over 38608 then it may reach to the level of 38781.

if banknifty crosses down below 37847 then it may reach to the level of 37684, 37684 is a strong support.

if banknifty crosses down below 37684 then it may also cross 37521 and will reach to the level of 37382.

If banknifty crosses down 37382 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 38781 tomorrow and reach higher levels.