Banknifty view for 17/08/22

Banknifty on the daily chart has formed a doji. The markets have stretched and a retest is pending.

Market on the hourly time frame has respected the level of 39600.

On the 15 minute time frame analysis, bank nifty has formed a LL-LH formation and on the intraday level could cross the previous high

The market can be volatile.

Support :- 39050, 39000, 38800
Resistance :- 39270, 39360, 39500

Wait for the price action near the levels before entering the markets.