#Banknifty directions and levels for August 19th.

if the initial market declines or faces rejection around the immediate resistance level (minor supply zone), it may take a retracement of 23% to 38%. After that, if it finds support, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 61% level on the downside.

Alternatively, if the market sustains or breaks the minor supply zone, then the rally will likely continue to the 50,830 to 50,984 level,