Firstly downward moves expectations finally sustaining beyond last 11 sessions trading range will generate its first strong signal
Technical Analysis,Research & Weekly
Outlook(Aug 31 to Sep 04,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (28-Aug-2026):-
Technical Patterns and Formations in EOD charts
1- 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.
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 26373.20 on 05-01-2026.
6- Corrective Wave-ii of Wave-5 continuation with recent bottom formations at 22182.55 on 02-04-2026.
7- Pull Back Rally continuation with recent top formations at 24774.30 on 03-08-2026.
8- Short Term correction continuation with recent bottom formations at 24025.70 on 19-08-2026.
9- Last 99 sessions trading between 23071-24774 after 701 points gap up opening on 08-04-2026.
10- Last 11 sessions trading between 24026-24405
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 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" begun from this level which completed at 21743.70 on 07-04-2025 and impulsive Wave-5 started 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 begun which is now in continuation after its recent lowest formations at 22182.55 on 02-04-2026 and no confirmation of its completion yet on EOD charts.
Pull Back Rally started from the bottom of corrective Wave-ii of Wave-5 which is now in continuation with its recent top formations at 24774.30 on 06-08-2026 and no confirmation of its completion yet on EOD charts. Short Term correction which begun from 24774.30 is now in continuation with its recent bottom formations at 24025.70 on 19-08-2026 and no confirmation of its completion also on EOD Charts.
As US President Donald Trump suddenly announced ceasefire of Middle East war therefore 701 Points gap up opening was seen on 08-04-2026 and since then Nifty is trading between 23071-24774 for the last 99 sessions. It is clear that Nifty is preparing for next bigger one sided moves within this range and let Nifty to sustain beyond this 99 previoussessions trading range then that side such bigger one sided moves will be seen. As Nifty is trading for the last 11 sessions between 24026-24405 and finally sustaining this range will confirm first strong signal of next one sided decisive moves beginning hence firstly sustaining beyond last 11 sessions trading range should be watched for the next one sided decisive moves beginning confirmations.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (28-Aug-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)- 22.61 & %D(3)- 45.03.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -157.90 & EXP(9)- -28.64 & Divergence- -129.26
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 showing more Short Term downward moves possibility in 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 this indicator has confirmed Short Term downward Trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (28-Aug-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24206(Very Short Term Trend decider)
2- 21-Day SMA is today at 24376(Short Term Trend decider)
3- 55-Day SMA is today at 24184(Intermediate Term Trend decider)
4- 100-Day SMA is today at 24018
5- 200-Day SMA is today at 24652(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
Nifty is hovering around Very Short Term,Short Term and Intermediate Term Trends deciding 5-Day,21-Day and 55-Day SMAs for the last 6 sessions therefore these 3 Trends are now at stake. Although Nifty tested Long Term Trend decider 200-Day SMA on 03-08-2026 but dowmward moves started from this level and Nifty has sustained below 200-Day SMA in the last 20 sessions therefore Long Term Trend is down.
Nifty-Last 11 Sessions
intraday charts analysis
Nifty-Intra Day Chart (Aug 14 to Aug 28,2026):-
Technical Patterns formation in last 11 Sessions intraday charts
1- Last 11 Sessions actual trading between 24026-24405
Conclusions from 5 Sessions
intra day chart analysis
As last 11 sessions trading was within 379 points between 24026-24405 and both lower levels supports and higher levels resistances are lying within this range therefore expected that Nifty will firstly trade and prepare for next bigger decisive moves as well as finally sustaining beyond this range will confirm it hence it should be firstly watched for 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
Waves structure which started more than 4 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 begun from this level which completed at 24774.30 on 03-08-2026 and correction started from this level which is now in continuation also with its recent bottom formations at 24025.70 on 19-08-2026 and no confirmation of its completion yet on EOD Charts.
As both Short Term indicators Stochastic and MACD are showing more downward moves possibility and Long Term Trend is already down as well as all other lower range Trends are at stake therefore more downward moves are expected towards following next supports in the beginning of coming week:-
1- 24089-24118
5- 24026-24077
3- 23824-23892(Gap Support)
4- 23743-23823
5- 23607-23673
Next resistances above last Friday closing are as follows:-
1- 24254-24297
2- 24310-24333
3- 24345-24378
4- 24451-24472
5- 24575-24677
As last 11 sessions trading was within 379 points between 24026-24405 and finally sustaining beyond this last 11 sessions trading range will generate first strong signal of next one sided decisive moves beginning therefore it should be firstly watched also for the next one sided decisive moves beginning strong signal amid firstly downward moves expectations