Banknifty Spot chart analysis for 03.08.2022

Banknifty standing at a strong resistance of 38023.

if banknifty moves above 38023 then it may reach to the level of 38209, 38209 is also a strong resistance.

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

between 38608 to 38781 is also an extremely strong resistance zone.

if banknifty crosses down below 38023 then it may also cross 37847 and may reach to the level of 37684.

if banknifty crosses down below 37684 then it may take support on 37521, 37521 is a strong support.

If banknifty crosses down 37521 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 38778 tomorrow and reach higher levels.