Sustaining beyond 24428-24677 will
generate first strong signal of next
decisive bigger moves beginning
Technical Analysis,Research & Weekly
Outlook(Aug 10 to Aug 14,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (07-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- Previous 79 sessions trading range(23071-24601) broken out on 03-08-2026.
8- Pull Back Rally continuation with recent top formations at 24774.30 on 06-08-2026.
9- Last 5 Sessions actual trading between 24428-24677.
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 begun 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.
Nifty traded in the previous 79 sessions of last week between 23071-24601 and in all the 5 sessions of last week Nifty hovered around 24601 and actually traded between 24428-24677. As previous week closing was between previous 79 sessions trading range at 24570.65 therefore firstly sustaining beyond last 5 sessions trading range(24428-24677) should be watched in the coming week because:-
1- Sustaining above 24677 will generate bigger upward moves after previous 79 sessions like bigger range broken out confirmations above 24601.
2- Sustaining below 24428 will mean invalid break out above 24601 in previous week and fresh selling above and below it therefore decisive downward moves will be seen towards the lowest(23071) of previous 79 sessions trading range.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (07-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 from Over bought zone.
2- Stochastic:- %K(5)- 62.19 & %D(3)- 72.94.
3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.
4- MACD(26,12)- 236.40 & EXP(9)- 44.32 & Divergence- 192.08
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 from Over bought zone therefore it will be understood that this indicator is signalling Short Term Downward moves beginning possibility.
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 this indicator is suggesting that fresh upward moves will be seen after Short Term upward Trend formations.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (07-Aug-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24644(Very Short Term Trend decider)
2- 21-Day SMA is today at 24346(Short Term Trend decider)
3- 55-Day SMA is today at 23971(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23834
5- 200-Day SMA is today at 24764(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
Although Nifty tested Long Term Trend decider 200-Day SMA on 03-08-2026 but Nifty closed below it in all the last 5 sessions of previous week therefore it will be understood that Long Term Trend is now at stake. As Nifty has closed well above Short Term and Intermediate Term Trends deciding 21-Day and 55-Day SMAs in the last 5 sessions of previous week therefore these 2 Trends are now up but Very Short Term Trend is also at Stake now because Nifty is hovering around its decider 5-Day SMA for the last 4 sessions.
Nifty-Last 5 Sessions intraday
charts analysis
Nifty-Intra Day Chart (Aug 03 to Aug 07,2026):-
Technical Patterns formation in last 5 Sessions intraday charts
1- Selling(Resistances) in last 5 Sessions are as follows:-
A- 24596-24627
B- 24575-24648
C- 24634-24677
2- Consolidation(Supports) in last 5 Sessions are as follows:-
A- 24527-24556
B- 24498-24547
C- 24428-24497
3- Last 5 Sessions actual trading between 24428-24677.
Conclusions from 5 Sessions
intra day chart analysis
Before previous week last 79 sessions trading was between 23071-24601 and Nifty hovered around 24601 in all the 5 sessions of previous week with above mentioned supports and resistances between 24428-24677. As Nifty closed last Friday within 79 sessions trading range(23071-24601) at 24570.65 therefore expected Nifty will firstly trade within last 5 sessions actual trading range(24428-24677) and prepare for next decisive moves beyond this range.
It should be kept in mind that once sustaining above last 5 sessions trading highest(24577) will mean break out confirmation of previous 79 sessions trading range(23071-24601) which will generate bigger upward moves. As on the contrary break down confirmation of last 5 sessions trading range after sustaining below 24428 will mean decisive downward moves beginning confirmation also therefore firstly sustaining beyond last 5 Sessions range(24428-24677) should be watched in the coming week for next bigger one sided decisive moves beginning confirmations.
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 Up.
4- Long Term Trend is at Stake..
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 is now in continuation with recent top formations at 24774.30 on 06-08-2026 and no confirmation of its completion also.
Although Short Term indicator MACD is signalling upward moves beginning possibility but another Short Term indicator Stochastic is indicating downward moves continuation possibility therefore it will be understood that Short Term indicators are not showing clear signals of one sided bigger moved beginning because Nifty is trading sideways firstly in previous 79 sessions and secondly in the last 5 sessions of previous week.
Short Term and Intermediate Term Trends are now up and firstly sustaining beyond last 5 sessions actual trading range(24428-24677) will generate first strong signal of next decisive bigger moves beginning as well as next Trend formations also therefore supports and resistances within this range has been updated above which should be firstly watched in the coming week for next signals of one sided decisive moves beginning.