Banknifty spot chart analysis for 18.10.2022

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Banknifty standing just below a strong resistance of 39954.

between 39954 to 40120 is also an super strong resistance zone.

if banknifty crosses above 40120 then it may also cross above 40276 and may reach to the level of 40442.

If Bank Nifty crosses over 40442 then it may reach to the level of 40564.


if banknifty moves down below 39798 then it may reach to the level of 39632, 39632 is a strong support.

if banknifty crosses down below 39632 then it may also cross 39483 and will reach to the level of 39301.

If banknifty crosses down 39301 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 40564 tomorrow and reach higher levels.