Just watch Level , Supports & Resistances according to Middle East war escalation and De-escalation possibility
Technical Analysis,Research & Weekly Outlook(Apr 27 to Apr 30,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (24-Apr-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 after 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 with new life time top formations at 26373.20 on 05-01-2026.
9- Corrective Wave-ii of Wave-5 continuation with recent bottom formations at 22182.55 on 02-04-2026.
10- Pull Back Rally continuation with recent top formations at 24601.70 on 21-04-2026.
11- Correction continuation with recent bottom formations at 23813.65 on 24-04-2026.
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 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 and Wave-B started 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 begun from this level.
Impulsive Wave-i of Wave-5 completed after its recent high and new life time top formations at 26373.20 on 05-01-2026 and from this levels corrective Wave-ii of Wave-5 started which is now continuation and no confirmation of its completion also on EOD charts after its recent lowest formations at 22182.55 on 02-04-2026. Pull Back Rally begun from this level which is now in continuation with recent top formations at 24601.70 on 21-04-2026 and no confirmation of its completion also on EOD charts. Correction started from this level which is also in continuation with its recent bottom formations at 23813.65 on 24-04-2026.
As all the Global Financial markets are reacting according to Middle East war escalation and De-escalation possibility therefore until Nifty will not sustain above or below any crucial level till then that side Trend will not get confirmations which should be firstly watched in the coming week/weeks for its confirmations.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (24-Apr-2026):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines are falling towards Over sold zone.
2- Stochastic:- %K(5)- 27.23 & %D(3)- 54.01.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.
4- MACD(26,12)- 678.07 & EXP(9)- 453.55 & Divergence- 224.52
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 is suggesting more downward moves possibility in the coming week.
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 confirmed Short Term upward trend formations and more upward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (24-Apr-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24278(Very Short Term Trend decider)
2- 21-Day SMA is today at 23581(Short Term Trend decider)
3- 55-Day SMA is today at 24402(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25044
5- 200-Day SMA is today at 25126(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is continuously closing well below Long Term Trend decider 200-Day SMA for the last 2 months therefore Long Term Trend is down. Intermediate and Very Short Term Term Trends are now at stake because Nifty is hovering around these 2 Trends deciding 55-Day and 5-Day SMAs for the last few sessions. As Nifty is continuously trading above Short Term Trend deciding 21-Day SMA for the last 3 weeks therefore Short Term Trend is now up.
Nifty-Intra Day Chart Analysis
(24-Apr-2026)
Nifty-Intra Day Chart (24-Apr-2026):-
Technical Patterns formation in today intraday charts
1- 107 Points movement in first minute between 24099-24206 after 72 points weaker opening.
2- 252 Points down in first 30 minutes from first minute highest
3- More than 4 hours downward moves in Bullish Falling Channel
4- Upward moves in last hours
5- Whole day trading between 23814-24206
Conclusions from intra day
chart analysis
Although 72 points weaker opening last Friday but 107 points movement was seen in first minute between 24099-24206 in which Nifty traded in positive zone also. As Nifty could not sustain at higher levels therefore 252 Points downward moves were seen in first 30 minutes from first minute highest.
As more than 4 hours downward moves were in Bullish Falling Channel in Mid Session therefore upward moves were seen in last hours and more upward moves are expected towards last Friday highest in the beginning of 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 at stake.
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 26373.20 on 05-01-2026. Now Wave-ii of Wave-5 continuation with recent bottom formations at 22182.55 on 02-04-2026 and no confirmation of its completion yet on EOD charts. Pull Back Rally started from this level which is also in continuation with its recent top formations at 24601.70 on 21-04-2026. Short Term correction begun from this level which is also in continuation with its recent bottom formations 23813.65 on 24-04-2026.
As multiple news are coming daily regarding Middle East war escalation and De-escalation and not only Indian but all the Global Financial markets are reacting on these news therefore until Nifty will not sustain above 55-Day SMA till then corrective Wave-ii of Wave-5 completion will not get confirmations.
Although Short Term indicators are not clearly showing one side decisive moves beginning possibilities but last Friday intraday charts are showing upward moves indications in the beginning of next week therefore firstly sustaining beyond following next resistances should be watched one by one in the beginning of comimg week for next decisive moves beginning confirmations:-
1- 24214-24310
2- 24387-24453
3- 24533-24579
Next supports below last Friday closing are as follows:-
1- 23821-23856
2- 23604-23740
3- 23154-23555(Gap Supports)
Above mentioned level(55-Day SMA & 200-Day SMA).Supports & Resistances should be watched in the coming week/weeks for next decisive moves beginning confirmations according to Middle East war escalation and De-escalation possibility