Banknifty spot chart Analysis for 02.01.2023

Banknifty standing just above a strong support of 42966.

if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418.

between 43266 to 43418 is also an extremely strong resistance zone .

If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713.



if banknifty crosses down below 42966 then it may also cross 42814 and may reach to the level of 42671.

if banknifty crosses below 42671 then it may also cross 42508 and may reach to the level of 42349.

If banknifty crosses down 42349 then it take bounce back from bounce back zone.

it is highly unlikely that banknifty will cross 43713 tomorrow and reach higher levels.