Finally sustaining beyond last
8 sessions trading range after
Union Budget 2026-27 will form
next Trend and generate
next bigger moves
Technical Analysis,Research
& Weekly Outlook
(Feb 01 to Feb 06,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (30-Jan-2026):-
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-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 high and new life time top formations at 26373.20 on 05-01-2026.
8- Correction continuation with recent bottom formations at 24919.80 on 21-01-2026.
9- Last 8 sessions trading between 24920-25585.
Conclusions from EOD chart
analysis(Waves structure)
Impulsive 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 begun from 15183.40 on 17-06-2022. Corrective Wave-A of Wave-4 of "ABC correction" started from life time top which completed at 23263.20 on 21-11-2024 and Wave-B begun from this level which completed at 24857.80 on 05-12-2024. Wave-C of "ABC correction" 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 high and new life time top formations at 26373.20 on 05-01-2026 and no indication of its completion yet on EOD charts.
Correction begun from life time top 3 weeks before and such forceful downward moves were also seen during this correction that Nifty slipped 1454 points in only 12 sessions immediately after new life time top formations. As last 8 sessions trading between 24920-25585 was with high intraday volatility and Nifty is preparing for post Union Budget 2026-27 one sided bigger moves within this 8 sessions trading range therefore firstly sustaining beyond this 8 previous sessions trading range should be watched in the coming week for the life and length of on going correction and post Budget decisive bigger moves beginning as well.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (30-Jan-2026):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line upward and its both lines are rising towards and within Over bought zone.
2- Stochastic:- %K(5)- 82.78 & %D(3)- 66.58.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -427.25 & EXP(9)- -341.26 & Divergence- -85.99
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 line upward and its both lines are rising towards and within Over bought zone and its both lines have not turned Over bought yet as well as downward intersection has also not been happen yet therefore it will be understood that upward moves will be seen in the coming week and any decisive Downward move will get confirmations only after its %K(5) line Downward intersection of %D(3) line.
2- As in MACD indicator its MACD line has intersected Average line downward and its both lines are falling in negative zone therefore it will be understood that MACD indicator has confirmed Short Term Downward trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (30-Jan-2026):-
8Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 25261(Very Short Term Trend decider)
2- 21-Day SMA is today at 25676(Short Term Trend decider)
3- 55-Day SMA is today at 25880(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25625
5- 200-Day SMA is today at 25199(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is trading and closing below Short and Intermediate Term Trends decider 21-Day and 55-Day SMAs for the last 15 sessions therefore these 2 trends are down but Very Short and Long Term Trends are at stake because Nifty is hovering around these 2 Trends decider 5-Day and 200-Day SMAs for the last 7 sessions. As finally sustaining beyond 5-Day and 200-Day SMAs will confirm Very Short and Long Term Trends formations as well as generate next bigger moves beginning strong signals there firstly sustaining beyond these 2 Averages should be watched in the coming week for next bigger moves beginning confirmations.
Nifty-Last 8 Sessions intraday
charts analysis
Nifty-Intra Day Chart (Jan 01 & Jan 01,2026):-
Technical Patterns formation in last 8 Sessions intraday charts
1- Selling(Resistances) in last 8 Sessions are as follows:-
A- 25403-25458
B- 25460-25509
2- Consolidation(Supports) in last 8 Sessions are as follows:-
A- 25160-25303
B- 25014-25097
C- 24920-24945
3- Last 8 Sessions trading between 24920-25585
Conclusions from 8 Sessions
intra day chart analysis
As highly intraday volatile trading was seen in last 8 Sessions between 24920-25585 and Union Budget 2026-27 announcements led highly volatile trading may also be seen in the beginning of coming week as well as finally Indian Stock Markets will begin fresh one sided moves according to final conclusions from Union Budget therefore:-
1- Firstly sustaining beyond above mentioned supports and resistances within last 8 Sessions trading range should be watched for initial signals of next decisive moves beginning.
2- Finally sustaining beyond last 8 Sessions trading range should be watched for next decisive moves beginning confirmations.
Conclusions(After putting
all studies together)
1- Very Short Term Trend is at stake.
2- Short Term Trend is is Down.
3- Intermediate Term Trend is Down.
4- Long Term Trend is at stake.
Impulsive Wave-iii of Wave-5 of that Waves structure is now in continuation with its recent high and new life time top formations at 26373.20 on 05-01-2026 of which Wave-1 started more than 3 years before from 15183.40 on 17-06-2022. Although no confirmation of impulsive Wave-iii of Wave-5 completion yet on EOD charts but the correction which begun from the day of new life time top formation is also now in continuation with its recent bottom formations at 24919.80 on 21-01-2026 and no confirmation of its completion also on EOD charts.
As firstly sharp fall from life time top and after that last 8 sessions highly volatile trading between 24920-25585 therefore:-
1- Long Term and Very Short Term Trends are now at stake. Intermediate Term and Short Term Trends are down therefore it is clear that now Trends are not showing any side clear direction.
2- Short Term indicators are also not showing clear picture of next Trends because one Short Term indicator Stochastic is showing some more upward moves signals while another Short Term indicator MACD is showing Downward Trend formations and suggesting more Downward moves possibility also.
Although indicators and Averages are not showing clear picture in the beginning of coming week but will be 100% clear after Union Budget 2026-27 announcements and resultant sustaining beyond last 8 sessions trading range(24920-25585). Supports and resistances within last 8 sessions trading range has beeen posted above and next supports and resistances beyond this range are as follows which should be watched for next decisive moves after sustaining beyond last 8 sessions trading range:-
Supports below 24920 are as follows:-
1- 24773-24850
2- 24602-24679
3- 24550-24618
4- 24356-24462(Strong supports).
5- 24165-24337(Gap Support).
6- 24042-24139
7- 23859-23987
Resistances above 25585 are as follows:-
1- 25594-25712
2- 25883-25942
3- 26069-26108
4- 26149-26181
5- 26216-26260
6- 26329-26373