Minimum target of Nifty is at 28263.3 which will be seen in the coming year/years
Technical Analysis,Research &
Weekly Outlook
(Oct 27 to Oct 31,2025)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (24-Oct-2025):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024 and Corrective Wave-A of Wave-4 of "ABC" correction beginning.
2- Corrective Wave-A of Wave-4 completion at 23263.20 on 21-11-2024.
3- Corrective Wave-B of Wave-4 completion at 24857.80 on 05-12-2024.
4- Corrective Wave-C of Wave-4 completion at 21743.70 on 07-04-2025 and Impulsive Wave-i of Wave-5 beginning from this level.
5- Impulsive Wave-i of Wave-5 completion at 25669.30 on 30-06-2025.
6- Corrective Wave-ii of Wave-5 completion at 24337.70 on 08-08-2025.
7- Impulsive Wave-iii of Wave-5 continuation with recent top formations at 26104.20 on 23-10-2025.
Conclusions from EOD chart
analysis(Waves structure)
Wave-3 of that Waves structure completed after new life time top formations at 26277.30 on 27-09-2024 of which impulsive Wave-1 of new Waves structure started from 15183.40 on 17-06-2022. Corrective Wave-A of Wave-4 of "ABC correction" begun from life time top which completed at 23263.20 on 21-11-2024. Its Wave-C of Wave-4 completed at 21743.70 on 07-04-2025 and impulsive Wave-5 started from this level.
Impulsive Wave-i of Wave-5 completed at 25669.30 on 30-06-2025 and from this levels corrective Wave-ii of Wave-5 begun which completed at 24337.70 on 08-08-2025. From this level impulsive Wave-iii of Wave-5 started which is now in continuation with its recent top formations at 26104.20 on 23-10-2025 and no confirmation of its completion yet on EOD charts.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (24-Oct-2025):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone.
2- Stochastic:- %K(5)- 70.12 & %D(3)- 81.67.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.
4- MACD(26,12)- 375.25 & EXP(9)- 172.81 & Divergence- 202.44
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Stochastic indicator its %K(5) line has intersected %D(3) line downward and its both lines are falling from Over bought zone therefore it will be understood that this indicator has generated strong signal of more downward moves possibility in the coming week/weeks.
2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone therefore it will be understood that MACD indicator has generated strong signal of decisive upward moves beginning after Short Term upward Trend formation confirmations.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (24-Oct-2025):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 25821(Very Short Term Trend decider)
2- 21-Day SMA is today at 25222(Short Term Trend decider)
3- 55-Day SMA is today at 24991(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25029
5- 200-Day SMA is today at 24269(Long Term Trend decider)
Conclusions from EOD chart
analysis(Averages)
As Nifty closed little below Very Short Term Trend decider 5-Day SMA last Friday after last 2 sessions downward moves therefore this Trend is now at stake but all the other Trends are up because Nifty has closed well above all other Trtends deciding Averages.
Nifty-Intra Day Chart Analysis
(24-Oct-2025)
Nifty-Intra Day Chart (24-Oct-2025):-
Technical Patterns formation in today intraday charts
1- Selling between 25866-25913
2- Sharp fall
3- Selling between 25815-25866
4- Downward moves
5- Consolidation between 25719-25779
6- Sharp up
7- Whole day trading between 25719-25944
Conclusions from intra day
chart analysis
Although firstly some upward moves after positive opening but selling developed at intraday higher levels and after that follow up selling was seen after sharp fall therefore downward moves were seen in Mid-session. As lower levels some consolidation also developed therefore sharp upward moves were seen in last hour.
It is clear from last Friday intraday charts that both lower levels consolidation and higher levels selling also developed therefore expected Nifty will firstly trade and prepare for next decisive moves within and near about last Friday trading range(25719-25944) and finally sustaining beyond this range will confirm next intraday decisive moves beginning which should be firstly watched for its confirmations in the coming week.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is at stake.
2- Short Term Trend is Up.
3- Intermediate Term Trend is Up.
4- Long Term Trend is Up.
Wave-4 "ABC" correction started after impulsive Wave-3 completion with new life time top formations at 26277.30 on 27-09-2024. Corrective Wave-C of Wave-4 completed at 21743.70 on 07-04-2025 and impulsive Wave-i of Wave-5 begun from this level and now its impulsive Wave-iii is continuation with recent top formations at 26104.20 on 23-10-2025 and no confirmation of its completion yet on EOD charts. Short Term correction begun from this level on 23-10-2025 which is now in continuation with its recent bottom formations at 25718.20 on 23-10-2025 and no indication of its completion also on intraday charts.
Although Short Term indicator MACD is confirming upward moves continuation after upward trend formations but another indicator Stochastic is suggesting Short Term downward moves possibility also which is expected also because;-
1- Higher levels good intraday selling was seen in last 2 sessions intraday charts.
2- Very Short Term Trend is now at stake after last 2 sessions downward moves.
As heavy selling developed on 23-10-2025 after heated sentiments due to the news of "US plans to slash tariffs on Indian imports to just 15–16 percent" therefore sharp correction was seen in both previous sessions. Firstly complete fresh consolidation is required for next decisive upward moves beginning hence sustaining above any of following next supports should be watched for the next upward moves beginning confirmations:-
1- 25629-25694
2- 25563-25612
3- 25416-25466
4- 25193-25315
Next resistances above last Friday closing are as follows which should be watched one by one for the next decisive upward moves beginning confirmations towards and above life time top at 26277.30:-
1- 25815-25913
2- 26052-26104
3- 26135-26151(Gap Resistance)
4- 26191-26248
5- 26258-26277
As Short Term correction is now in continuation therefore firstly some more downward moves are expected in the coming week but at present impulsive Wave-iii of Wave-5 continuation for decisive upward moves above life time top(26277.30) because as per following calculations minimum target of on going impulsive Wave-iii of Wave-5 is at 28263.3 which will be seen in the coming year/years:-
As per Elliott Wave theory "Wave-3 should not be shorter than both Wave-1 and Wave-5. Now impulsive Wave-iii of Wave-5 is on and it should gain more points than Wave-i of Wave-5 gained.
Wave-i of Wave-5 gained- 3925.6 Points(25669.30-21743.70)
Wave-iii of Wave-5 started from 24337.70 and and as per Elliott Wave theory it should gain minimum 3925.6 points because it can not be shorter than Wave-i of Wave-5 therefore:-
Minimum target of on going Wave-iii of Wave-5 is at 28263.3:-
21743.70(Wave-iii of Wave-5 started)+3925.6(Wave-i of Wave-5 gained).