First watch next supports during West Asia escalating war
Technical Analysis,Research & Weekly Outlook(Mar 23 to Mar 27,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (20-Mar-2026):-
Technical Patterns and Formations in EOD charts
1- Impulsive Wave-3 completion 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 with new life time top formations at at 26373.20 on 05-01-2026.
6- Corrective Wave-ii of Wave-5 continuation with recent bottom formations at 22930.30 on 19-03-2026.
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 26373.20 on 05-01-2026 and from this levels corrective Wave-ii of Wave-5 begun which is now forcefully continuation due to Middle-East war escalation and no indication of its completion also on EOD charts after its recent lowest formations at 22930.30 on 19-03-2026.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (20-Mar-2026):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines have started falling towards Over sold zone.
2- Stochastic:- %K(5)- 39.38 & %D(3)- 48.23.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -1047.25 & EXP(9)- -891.66 & Divergence- -155.59
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 towards Over sold zone therefore it will be understood that this indicator has generated first signal of fresh downward moves beginning which may be seen the coming week.
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 (20-Mar-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23377( decider)
2- 21-Day SMA is today at 24415(Short Term Trend decider)
3- 55-Day SMA is today at 25178(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25523
5- 200-Day SMA is today at 25284(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is continuously closing well below all the 3 Short Term to Long Term deciding 21-Day to 200-Day 3 SMAs for the last 15 sessions therefore these 3 Trends down now. Very Short Term Trend is now at stake because Nifty is hovering around its deciding 5-Day SMA for the last 5 sessions.
Nifty-Last 2 Sessions intraday
charts analysis
Nifty-Intra Day Chart (Mar 19 & Mar 20,2026):-
Technical Patterns formation in last 2 Sessions intraday charts
1- 420 points gap down and 580 Points weaker opening on 19-03-2029.
2- More than 4 hours selling between 23201-23351 on 19-03-2029.
3- Down moves in Bullish Falling Channel in last 2 hours on 19-03-2029.
4- Selling between 23231-23341 on 20-03-2029.
5- Downward moves in last hours on 20-03-2029.
Conclusions from 2 Sessions
intra day chart analysis
As West Asia war had been completely escalated therefore all the Global markets were in crashing mode on 19-03-2029 hence sentiment was completely depressed and resultant firstly 420 points gap down and 580 points weaker opening was seen that day. Although firstly more than 4 hours selling was seen after such weaker opening but downward moves were in Bullish Falling Channel in the last 2 hours also therefore in this manner lower levels consolidation developed hence resultant 108 points positive opening was seen next day.
Although firstly upward moves after positive opening on 20-03-2026 and Nifty traded 343 points positive also but higher levels selling was seen between 23231-23341 which was within the selling range of previous session therefore downward moves were seen in the last hours that day.
As higher levels good intraday selling in last 2 sessions between 23201-23351 therefore this range will be immediate and strong resistances and until Nifty will not sustain above this range after complete consolidation till then any decisive upward move will not be seen above 23351 and more downward moves are expected towards next supports below 23201 in the beginning of next week.
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 down.
Waves structure which begun more than 3 years before through its impulsive Wave-1 from 15183.40 on 17-06-2022 is now in continuation through its impulsive Wave-5 of which impulsive Wave-i completed after new life time top formations at at 26373.20 on 05-01-2026 and now its corrective Wave-ii continuation with its recent bottom formations at 22930.30 on 19-03-2026 and no indication of its completion yet on EOD charts.
Short Term to Long Term all 3 Trends have turned down during on going correction. Short Term indicators Stochastic and MACD are showing more downward moves possibility and last 2 sessions intraday charts are also showing higher levels selling patterns formations and fresh downward moves possibility therefore corrective Wave-ii continuation is expected in the beginning of coming week and following next supports should be firstly watched one by one in the coming week for next decisive moves beginning confirmations:-
1- 22860-22923
2- 22770-22795
3- 22469-22695(Gap Supports)
4- 22271-22424
5- 21825-22021
Although now no sign of on going West Asia escalating war completion which has entered its fourth week with intensified strikes involving Iran,Israel and the United States but if any signal of war completion emerge then upwards moves will be seen and in that situation following next resistances should be watched one by one for next decisive moves beginning confirmations:-
1- 23201-23351
2- 23379-23618(Gap Resistances)
3- 23754-23847
4- 23932-24006
5- 24198-25302
6- 24304-24415(Gap resistance)
7- 24545-24700