Sustaining beyond last 40 sessions lowest(23152) will be confirm deeper correction beginning or upward moves towards last 40 sessions highest
Technical Analysis,Research &Weekly
Outlook(Jun 08 to Jun 12,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (05-Jun-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 completion at 24601.70 on 21-04-2026.
11- Correction continuation with recent bottom formations at 23151.50 on 03-06-2026.
12- Last 40 sessions trading between 23152-24601 after 701 points gap up opening on 08-04-2026.
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. Corrective Wave-A of "ABC correction" of Wave-4 begun from this level 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 in continuation with its recent bottom formations at 22182.55 on 02-04-2026 and no confirmation of its completion yet on EOD charts.
Pull Back Rally begun from the bottom of corrective Wave-ii of Wave-5 and 3 sessions after its beginning 701 points gap up opening was seen on 08-04-2026 because US President Donald Trump suddenly announced ceasefire of Middle East war. Since then Nifty is trading within 596 points between 23152-24601 for the last 40 sessions because there is complete confusing situation of Middle East war escalation or De-escalation possibilities. As finally next bigger moves beyond last 40 sessions trading range(23152-24601) will be according to final results of Middle East war therefore should be watched in the coming week/weeks/months.
Although Nifty closed within previous 40 sessions trading range(23152-24601) at 23366.70 last Friday but new lowest of this range was formed in previous week at 23151.50 on 03-06-2026 therefore firstly sustaining beyond the lowest of previous 40 sessions trading range should be watched in the coming week because once sustaining below it will mean deeper correction beginning confirmation.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (05-Jun-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 from Over sold zone.
2- Stochastic:- %K(5)- 32.65 & %D(3)- 27.92.
3- In MACD- Its both MACD line and Average line are kissing in negative zone.
4- MACD(26,12)- -130.66 & EXP(9)- -147.17 & Divergence- 16.51
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 upward and its both lines are rising from Over sold zone therefore it will be understood that this indicator is showing signals of fresh upward moves possibility in the coming week.
2- As in MACD indicator its both MACD line and Average line are kissing in negative zone therefore it will be understood that at present this indicator is not showing clear signals of any side one sided decisive moves beginning. Let its MACD line to intersect its Average line any side clearly then that side one sided decisive moves will be seen.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (05-Jun-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23411(Very Short Term Trend decider)
2- 21-Day SMA is today at 23676(Short Term Trend decider)
3- 55-Day SMA is today at 23658(Intermediate Term Trend decider)
4- 100-Day SMA is today at 24410
5- 200-Day SMA is today at 24956(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 more than 3 months therefore Long Term Trend is down. Although Nifty had hovered around 29 sessions Very Short to Intermediate Term Trends deciding 5-Day,21-Day and 55-Day SMAs but Nifty has closed below these Very Short to Intermediate Term Trends deciding Averages in the last 6 sessions therefore sustaining beyond these 3 Averages should be watched in the coming week because sustaining below 21-Day and 55-Day SMAs will mean deeper correction beginning confirmations.
Nifty-Intra Day Chart Analysis
(05-Jun-2026)
Nifty-Intra Day Chart (05-Jun-2026):-
Technical Patterns formation in today intraday charts
1- Sideways trading before RBI Credit Policy announcements between 23438-23486
2- 179 Points volatility during and immediately after RBI Credit Policy announcements between 23332-23511
3- Sideways trading after RBI Credit Policy announcements between 23399-23451
4- More than last 4 hours trading between 23283-23451
5- Down moves in Bullish Falling Channel
6- Up moves with downward corrections
7- Whole day trading between 23283-23516
Conclusions from intra day
chart analysis
Although 99 Points up in first minute after 62 points positive opening but RBI Credit Policy announcements was to be started at 10:AM therefore sideways trading was seen between 23438-23486. As Credit Policy announcements led multiple different positive and negative views therefore 179 points high volatility developed between 23332-23511 during and immediately after RBI Credit Policy announcements.
As again sideways trading after RBI Credit Policy announcements between 23399-23451 and after that in last 3 hours firstly downward moves were in Bullish Falling Channel and from intraday lower levels upward moves were with downward corrections therefore it will be understood that lower levels consolidation patterns developed in last hours.
Consolidation patterns formations and sideways trading was seen in the last more than 4 hours and 179 Points like high intraday volatility was also seen last Friday and intraday technical positions reverses also during such high volatility as well as whole day last Friday trading was RBI Credit Policy led also therefore confirmation is firstly required through sustaining beyond more than last 4 hours trading range(23283-23451) for next decisive and bigger moves beginning confirmations.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is at stake.
2- Short Term Trend is at stake.
3- Intermediate Term Trend is at stake.
4- Long Term Trend is down.
Impulsive Wave-i of Wave-5 of that waves structure completed after new life time top formations at 26373.20 on 05-01-2026 of which impulsive Wave-1 started more than 3 years before from 15183.40 on 17-06-2022. Now its corrective Wave-ii of Wave-5 continuation with its recent bottom formations at 22182.55 on 02-04-2026 and no confirmation of its completion yet on EOD charts. Pull Back Rally begun from this level which completed at 24601.70 on 21-04-2026 and correction started from this level which is now in continuation also with its recent bottom formations at 23151.50 on 03-06-2026.
It is clear from the last 40 sessions EOD charts that Nifty traded within 1449 points between 23152-24601 during this period. As new lowest of this range was formed in previous week at 23151.50 on 03-06-2026 and Nifty closed only 214 points above the lowest of last 40 sessions trading range therefore firstly sustaining beyond the lowest of previous 40 sessions trading range should be watched in the coming week because once sustaining below it will mean deeper correction beginning confirmation.
Although Short Term indicator MACD is not showing signals of any side immediate decisive moves beginning but another indicator Stochastic is indicating fresh upward moves possibility in the coming week. As Long Term Trend is down and all other Trends will turn down if fresh downward moves starts in the beginning of coming week.
As whole day last Friday trading was RBI Credit Policy sentiments led and first signal of next decisive moves beginning will be after sustaining beyond its last 4 hours trading range(23283-23451) therefore it should be firstly watched in the beginning of coming week for next decisive and bigger moves beginning confirmations.
The direct war between the United States and Iran begun on February 28, 2026 and since then not only Inidan but all the Global Financial markets are reacting on its escalation or De-escalation possibilities. As continuous contradictory statements of Donald Trump and 701 points upward gap(23154-23855) formations after his Middle East war ceasefire sudden announcement has also been filled up on 03-06-2026 after on going correction recent bottom formations at 23151.50 therefore firstly following levels should be watched in the coming week for next decisive moves beginning first signal and confirmations because once sustaining below last 40 sessions lowest(23152) will be deeper correction beginning confirmation after last 40 sessions trading range broken down confirmations and new lowest formations of on going correction:-
1- 23283-23451(Last 4 hours trading range of last Friday for first signal)
2- 23152-24601(Last 40 sessions trading range for confirmations)
Next supports below last Friday lowest are as follows:-
1- 23180-23236
4- 22821-22940
3- 22567-22682
4- 22291-22424
5- 22183-22284
6- 21825-22021
7- 21795-21860
8- 21711-21791
9- 21653-21690
10- 21544-21628
Selling(Resistances) within last 35 trading range are as follows:-
1- 23406-23453
2- 23502-23546
3- 23573-23613
4- 23895-23943
5- 23946-23983
6- 24032-24089
7- 24169-24237
8- 24343-24381
9- 24387-24453
10- 24533-24579