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 

Just watch sustaining beyond 23305-23465 for next intraday decisive moves beginning confirmations

Nifty-Intra Day Chart Analysis &

Market Outlook(05-06-2026)

Nifty-Intra Day Chart (04-Jun-2026):-

Technical Patterns formation in today intraday charts

1- 158 Points down in first minute after 123 points weaker opening and 115 points recovery from lower levels in first 4 minutes from 23248 to 23363.

2- Whole day trading between 23305-23465. 

3- Whole day trading between 23248-23465.

Conclusions from intra day

chart analysis 

Although high volatility in first 4 minutes after 158 Points downward moves in first minute after 123 points weaker opening and after that 115 points recovery from lower levels also in first 4 minutes from 23248 to 23363 but finally one sided moves were not seen and  Whole day trading was between 23305-23465. As both lower levels supports and higher levels selling was seen between 23305-23465 one sided intraday trading patterns formations were not seen therefore sustaining beyond this today most time traded range should be watched tomorrow for next intraday decisive moves beginning confirmations.

Watch today lowest amid firstly downward moves expectations

Nifty-Intra Day Chart Analysis

& Market Outlook(04-06-2026)

Nifty-Intra Day Chart (03-Jun-2026):-

Technical Patterns formation in today intraday charts

1- 179 Points down in first 2 minutes after 67 points weaker opening.

2- Almost 3 hours downward moves in Bullish Falling Channel.

3- 149 Points sharp up.

4- Up moves in Bearish Rising Channel.

5- Selling between 23395-23459. 

6- Whole day trading between 23152-23459.

Conclusions from intra day

chart analysis 

Although firstly 179 Points down in first 2 minutes after 67 points weaker opening but after that almost 3 hours downward moves were in Bullish Falling Channel which is intraday buying pattern therefore 149 Points sharp upward move was seen in Mid-Session. As higher levels intraday selling was seen through upward moves in Bearish Rising Channel which is intraday selling pattern and after that selling between 23395-23459 therefore:- 

1- Firstly downward moves are expected towards today lowest

and 

2- Sustaining beyond today lowest should be watched tomorrow for next intraday decisive moves beginning confirmations.

Sustaining beyond 23230-23556 will confirm next decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(03-06-2026)

Nifty-Intra Day Chart (02-Jun-2026):-

Technical Patterns formation in today intraday charts

 

1- More than 3 hours volatility between 23230-23376 after 128 Points Gap down and 153 Points weaker opening 

2- Sharp up

3- Up moves in Bearish Rising Channel

4- Volatility in last hours between 23230-23376

5- Whole day trading between 23230-23556

Conclusions from intra day chart analysis 

Following lines were told at 12:41 AM on 02-06-2026 in "Sustaining beyond next supports range will confirm next intraday decisive moves beginning":-

Bounce Back and high intraday 

volatility is expected in the

 coming sessions

As was told 100% same happened and:-

1- Sharp upward moves was seen in Mid-Session with 

2- both first 3 hours and last hours volatility.

Although 128 Points Gap down and 153 Points weaker opening but sharp upward move was seen in Mid-Session after more than 3 hours volatility because Very Short term indicators had turned Oversold after last 2 sessions deeper corrections. As upward moves after sharp up were in Bearish Rising Channel and it is intraday selling pattern therefore Nifty could not sustain at higher levels and volatility developed in last hours between 23230-23376.   

As more than 4 hours intraday volatility and higher levels intraday selling patterns formations also therefore expected that Nifty will firstly trade and prepare for next decisive moves within and near about today trading range as well as finally sustaining beyond today trading range will confirm its beginning therefore sustaining beyond today trading range(23230-23556) should be watched in the coming sessions for next decisive moves beginning confirmations.

Sustaining beyond next supports

 range will confirm next intraday

 decisive moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(02-06-2026)

Nifty-Intra Day Chart (01-Jun-2026):-

Technical Patterns formation in today intraday charts

1- 123 Points fall in first minute from first minute higher levels.

2- Whole day downward moves with upward corrections.

3- Whole day trading between 23358-23733.

Conclusions from intra day

chart analysis 

As firstly 123 Points fall in first minute from first minute higher levels and after that whole day downward moves were with upward corrections which is intraday selling pattern therefore Nifty closed near the lower levels of the day after loosing 0.70% points today. Although such weaker closing and deeper correction has also been seen in last 2 sessions but Bounce Back and high intraday volatility is expected in the coming sessions because:-

1- Very Short term indicators have turned Oversold in last 2 sessions deeper corrections.

2- Today lowest and closing was within next supports(23313-23396). 

Therefore sustaining beyond this next supports range should be firstly watched tomorrow for next intraday decisive moves beginning confirmations.