Finally sustaining beyond 25373-26009 will confirm Trump Tariff reduction from 18% to 10% impact on Indian markets
Technical Analysis,Research
& Weekly Outlook
(Feb 23 to Feb 27,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (20-Feb-2026):-
Technical Patterns and Formations in EOD charts
1- Corrective Wave-C of previous Waves structure "ABC correction" completion at 15183.40 on 17-06-2022 and Impulsive Wave-1 of new Waves structure beginning.
2- Impulsive Wave-1 completion at 18887.60 on 01-12-2022.
3- Corrective Wave-2 completion at 16828.30 on 20-03-2023.
4- 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.
5- Corrective Wave-A of Wave-4 completion at 23263.20 on 21-11-2024.
6- Corrective Wave-B of Wave-4 completion at 24857.80 on 05-12-2024.
7- Corrective Wave-C of Wave-4 completion at 21743.70 on 07-04-2025 and Impulsive Wave-5 beginning from this level.
8- Impulsive Wave-i of Wave-5 completion at 25669.30 on 30-06-2025.
9- Corrective Wave-ii of Wave-5 completion at 24337.70 on 08-08-2025.
10- Impulsive Wave-iii of Wave-5 continuation with recent high and new life time top formations at 26373.20 on 05-01-2026.
11- Correction completion at 24571.8 on 01-02-2026.
12- 1252.8 Points jump to 26341.2 on 03-02-2026 after Trump announcement of reducing Indian tariffs from 50% to 18%.
13- Correction continuation with recent bottom formations at 25372.70 on 16-02-2026.
14- Last 14 Sessions trading between 25373-26009
Conclusions from EOD chart
analysis(Waves structure)
Corrective Wave-C of "ABC correction" of previous waves structure completed at 15183.40 on 17-06-2022 and from this level Impulsive Wave-1 of new Waves structure started. Its Wave-1 completed at 18887.60 on 01-12-2022 and corrective Wave-2 begun from this level which completed at 16828.30 on 20-03-2023 and impulsive Wave-3 started from this level which completed with new life time top formations at 26277.30 on 27-09-2024 and corrective Wave-A of Wave-4 begun from this level.
Corrective Wave-A of Wave-4 completed at 23263.20 on 21-11-2024 and Wave-B of Wave-4 started from this levels which completed at 24857.80 on 05-12-2024. From this level corrective Wave-C of Wave-4 begun which 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 confirmation of its completion yet on EOD charts.
As too much forceful correction was seen from life time top therefore Nifty slipped 1801 points in only 19 sessions till Union Budget 2026-27 day(01-02-2026). In the same manner that much forceful 1252.8 Points powerful jump was also seen with intraday highest formations at 26341.2 on 03-02-2026 after Trump announcement of reducing Indian tariffs from 50% to 18%. Although such strong upward moves on this Bullish news but Nifty could not sustain and Nifty slipped 555 points also in first minute as well as since then sideways trading is being seen between 25373-26009 for the last 14 sessions and finally sustaining beyond this range will confirm next one sided bigger moves beginning.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (20-Feb-2026):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-iii of Wave-5 continuation with recent high and new life time top formations at 26373.20 on 05-01-2026.
2- Correction completion at 24571.8 on 01-02-2026.
3- 1252.8 Points jump to 26341.2 on 03-02-2026 after Trump announcement of reducing Indian tariffs from 50% to 18%.
4- Correction continuation with recent bottom formations at 25372.70 on 16-02-2026.
5- Last 14 Sessions trading between 25373-26009
6- Stochastic- Its both lines %K(5) and %D(3) are kissing in middle zone.
7- Stochastic:- %K(5)- 46.10 & %D(3)- 53.45.
8- In MACD- Its both MACD line and Average line are kissing in positive zone.
9- MACD(26,12)- 212.22 & EXP(9)- 197.52 & Divergence- 14.7
Conclusions from EOD chart
analysis (Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Stochastic indicator its both lines %K(5) and %D(3) are kissing in middle zone therefore it will be understood that at present this indicator is not signalling any side decisive moves beginning possibility. Let its %K(5) line to intersect %D(3) line upper side or lower side then that side one sided decisive moves will be seen.
2- As in MACD indicator its both MACD line and Average line are kissing in positive zone therefore it will be understood that at present this indicator is showing that Short Term Trend is up but pause situation also in on going upward moves. Let its MACD line to intersect Average line upward or downward then that side Short Term moves will be seen.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (20-Feb-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 25651(Very Short Term Trend decider)
2- 21-Day SMA is today at 25540(Short Term Trend decider)
3- 55-Day SMA is today at 25761(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25717
5- 200-Day SMA is today at 25324(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is continuously trading above Long Term Trend decider 200-Day SMA(today at 25324) from 03-02-2026 therefore Long Term Trend is up but Very Short Term to Intermediate Term Trends are now at stake because Nifty is hovering around all these 3 Trends deciding 5-Day to 55-Day 3 SMAs for the last 14 sessions.
Nifty-Intra Day Chart
Analysis(20-Feb-2026)
Nifty-Intra Day Chart (20-Feb-2026):-
Technical Patterns formation in today intraday charts
1- Up moves with downward corrections
2- More than 5 hours trading was with consolidation patterns indications between 25538-25663
3- Whole day trading between 25380-25663
Conclusions from intraday
chart analysis
Although some downward moves after negative opening last Friday but from lower levels upward moves begun from with downward corrections and after that more than 5 hours trading was with consolidation patterns indications therefore once sustaining above last Friday highest(25663) will mean decisive upward moves beginning.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is at stake.
2- Short Term Trend is is at stake.
3- Intermediate Term Trend is at stake.
4- Long Term Trend is up.
New Waves structure which started more than 3 years before through its Wave-1 from 15183.40 on 17-06-2022 is now in continuation through its Wave-iii of Wave-5 with its recent high and new life time top formations at 26373.20 on 05-01-2026 and no confirmation of its completion yet on EOD charts. That deeper and sharp correction which started from life time top was completed on Budget 2026-27 day(01-02-2026) after its bottom formations at 24571.8 due to Nifty 1252.8 Points jump on 03-02-2026 which was immediate reaction of Trump announcement of reducing Indian tariffs from 50% to 18%.
Although such strong Nifty 1252.8 Points jump on 03-02-2026 but Nifty remained 32 points short of life time top and could not sustain at intraday higher levels also as well as Nifty slipped 555 points in first minute as well as since then Nifty is trading between 25373-26009 for the last 14 Sessions therefore:-
1- Short Term indicators Stochastic and MACD are not showing any side clear one sided bigger moves beginning signals.
2- Very Short Term to Intermediate Term Trends are now at stake.
As President Trump responded to US Courts judgements by imposing a 10% global tariff therefore in this manner Trump reduced India Tariff from 18% to 10% on 20-02-2026. Indian Stock Markets will firstly react on this news in the beginning of next week according to its actual impact on Indian Economy,Exports and different sectors therefore firstly sustaining beyond follwing levels should be watched in the coming week for this news led bigger moves beginning confirmations:-
1- Last Friday more than 5 hours trading range(25538-25663) which was with consolidation patterns indications.
2- Last 14 Sessions trading range(25373-26009).
As finally sustaining beyond last 14 Sessions trading range(25373-26009) will mean:-
1- Strong upward moves beginning towards/above life time top after sustaining above 26009.
2- Deeper correction beginning after sustaining below 25373.
Therefore firstly next immediate following supports and resistances between 25373-26009 should be watched:-
1- Next immediate resistances are as follows:-
1- 25718-25754
2- 25775-25820
3- 25842-25881
4- 25947-25984
2- Next immediate supports are as follows:-
A- 25540-25576
B- 25513-25537
C- 25447-25482