Firstly downward moves & finally sustaining beyond last 79 sessions trading range will generate next bigger one sided moves
Technical Analysis,Research & Weekly
Outlook(Augl 03 to Aug 07,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (31-Jul-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 23070.20 on 08-06-2026 and Pull Back Rally beginning from this level.
12- Last 79 sessions trading between 23071-24601 after 701 points gap up opening on 08-04-2026.
13- Last 34 sessions trading between 23607-24530 after 172 points gap up opening on 15-06-2026.
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 begun. Its Wave-1 completed at 18887.60 on 01-12-2022 and corrective Wave-2 started from this level which completed at 16828.30 on 20-03-2023 and impulsive Wave-3 begun from this level which completed with new life time top formations at 26277.30 on 27-09-2024. Corrective Wave-A of Wave-4 of "ABC correction" started from this level which completed at 23263.20 on 21-11-2024 and Wave-B begun from this level which completed at 24857.80 on 05-12-2024. Wave-C of "ABC correction" started from this level which 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 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 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 1530 points between 23071-24601 for the last 79 sessions because there was complete confusion regarding Middle East war escalation or De-escalation possibilities.
As US and Iran war ending MoU signing news came on 15-06-2026 therefore 172 points gap up opening was seen on that day and US and Iran both signed MoU also to end War on 17-06-2026 but again war has been started and some news of war ending are also coming therefore Nifty has turned sideways between 23607-24530 for the last 34 sessions. As such longer periods of 2 sideways trading ranges(79 sessions & 34 sessions) therefore it is clear that finally sustaining beyond or valid break out/down of these 2 sideways trading ranges will generate next one sided bigger decisive.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (31-Jul-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 in Over bought zone.
2- Stochastic:- %K(5)- 94.35 & %D(3)- 84.94.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -38.78 & EXP(9)- -5.73 & Divergence- -33.05
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 in Over bought zone therefore it will be understood that this indicator is suggesting Short Term Downward moves may begin therefore remain cautious. Let its %K(5) line to intersect %D(3) line downward and to move below Over bought zone line then decisive downward moves will be seen
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 shown clear signals of downward Trend formations and fresh downward moves beginning possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (31-Jul-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24186(Very Short Term Trend decider)
2- 21-Day SMA is today at 24138(Short Term Trend decider)
3- 55-Day SMA is today at 23881(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23816
5- 200-Day SMA is today at 24778(Long Term Trend decider)
Conclusions from EOD chart analysis
(Averages)
As Nifty has closed well above Very Short Term, Short Term and Intermediate Term Trends deciding 5-Day, 21-Day and 55-Day SMAs in the last 3 sessions of previous week therefore these 3 Trends are now up but Long Term Trend is still down because Nifty is continuously closing well below its decider 200-Day SMA for the last more than 4 months.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is up.
2- Short Term Trend is up.
3- Intermediate Term Trend is up.
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 begun more than 4 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 23070.20 on 08-06-2026.
Nifty turned sideways and has traded in the last 79 sessions between 23071-24601 because there was complete uncertainty regarding Middle East war escalation or De-escalation possibility. Nifty is trading sidewaysfor the last 34 sessions between 23607-24530 which is within the last 79 sessions trading range also therefore firstly sustaining beyond these 2 sideways trading range shoud be watched one by one for next decisive moves finally beginning beyond 23071-24601.
Although Very Short to Intermediate Term 3 Trends are now up but Long Term Trend is still down which will be up after sustaining above its decider 200-Day SMA which is today at 24778 and once sustaining above last 79 sessions highest(24601) will mean high possibility of Long Term Trend turning up also because it is now only 177 points below Long Term Trend decider 200-Day SMA.
Short Term indicator MACD has shown clear signals of downward Trend formations and fresh downward moves beginning possibility also and another Short Term indicator Stochastic is also telling that Short Term correction is on cards therefore firstly next suports within last 34 sessions trading range should be watched for the life and length of correction:-
1- 24207-24268
2- 24042-24136(Gap Support)
3- 23960-24038
4- 23743-23823
5- 23607-23673
Next resistance above last Friday closing should be watched after fresh upwardmoves beginning:-
1- 24387-24453
2- 24533-24579
3- 24596-24700
4- 24830-24963
5- 24990-25141
Firstly watch next supports amid some downward moves expectations & finally sustaining beyond last 79 sessions trading range will generate next bigger one sided moves.
