Union Budget 2026–27 week will confirm next Trend & Bigger moves according to Nifty sustaining beyond Long Term Trend decider 200-Day SMA
Technical Analysis,Research &
Weekly Outlook
(Jan 27 to Jan 30,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (23-Jan-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 with 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 at 25669.30 on 30-06-2025.
9- Corrective Wave-ii of Wave-5 completion at 24337.70 on 08-08-2025.
10- Impulsive Wave-iii of Wave-5 continuation with recent high and new life time top formations at 26373.20 on 05-01-2026.
11- Correction continuation with recent bottom formations at 24919.80 on 21-01-2026.
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 and corrective Wave-A of Wave-4 begun from this level.
Corrective Wave-A of Wave-4 completed at 23263.20 on 21-11-2024 and Wave-B of Wave-4 started from this levels which completed at 24857.80 on 05-12-2024. From this level corrective Wave-C of Wave-4 begun which completed at 21743.70 on 07-04-2025 and impulsive Wave-5 started from this level.
Impulsive Wave-i of Wave-5 completed at 25669.30 on 30-06-2025 and from this levels corrective Wave-ii of Wave-5 begun which completed at 24337.70 on 08-08-2025. From this level impulsive Wave-iii of Wave-5 started which is now in continuation with its recent high and new life time top formations at 26373.20 on 05-01-2026 and no confirmation of its completion yet on EOD charts. Deeper and fast correction started from life time top and forceful downward moves were also seen during this on going correction. Now this correction is also in continuation with its recent bottom formations at 24919.80 on 21-01-2026 and no indication of its completion also on EOD and intraday charts therefore firstly its completion confirmation is required for any decisive upward moves beginning first signal.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (23-Jan-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)- 27.10 & %D(3)- 23.67.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
MACD(26,12)- -380.07 & EXP(9)- -158.51 & Divergence- -221.56
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 line upward and its both lines are rising from Over sold zone therefore it will be understood that this indicator has generated first signal of fresh upward moves beginning which may be seen also 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 MACD indicator has confirmed of Short Term Downward trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (23-Jan-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 25263(Very Short Term Trend decider)
2- 21-Day SMA is today at 25809(Short Term Trend decider)
3- 55-Day SMA is today at 25898(Intermediate Term Trend decider)
4- 100-Day SMA is today at 25599
5- 200-Day SMA is today at 25143(Long Term Trend decider)
Conclusions from EOD chart analysis (Averages)
As Nifty is continuously closing below 5-Day,21-Day and 55-Day SMAs for the last 11 sessions therefore Very Short Term to Intermediate Term Trends have turned down but Long Term Trend is now at stake because:-
1- Nifty is hovering around its decider 200-Day SMA for the last 3 sessions.
2- Nifty has closed its decider 200-Day SMA in only one session last Friday. Let Nifty to sustain beyond 200-Day SMA then finally Long Term Trend formations will get confirmations according to its up or down sustaining beyond its decider 200-Day SMA.
Nifty-Intra Day Chart
Analysis(22-Jan-2026)
Nifty-Intra Day Chart (22-Jan-2026):-
Technical Patterns formation in today intraday charts
1- Mixed Patterns formation between 25254-25347
2- Sharp fall
3- Sideways trading between 25186-25244
4- Sharp fall
5- Support in last 2 hours between 25026-25106
6- Whole day trading between 25026-25347
Conclusions from intra day
chart analysis
Although 54 points positive opening last Friday but whole day downward moves were seen and Nifty closed near the lower levels of the day 0.95% down also. As firstly Mixed Patterns formation between 25254-25347 and after that Sideways trading also between 25186-25244 in Mid-Session and one sided intraday trading patterns were not seen as well as Nifty is in correction mode therefore sharp fall was seen 2 times.
As Nifty got supports at lower levels in last 2 hours between 25026-25106 therefore firstly sustaining beyond this supports range should be watched in the coming week for next decisive and one sided bigger moves beginning confirmations.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is Down.
2- Short Term Trend is is Down.
3- Intermediate Term Trend is Down.
4- Long Term Trend is at stake.
New Waves structure which started more than 3 years before through its Wave-1 from 15183.40 on 17-06-2022 is now in continuation through its Wave-iii of Wave-5 with recent high and new life time top formations at 26373.20 on 05-01-2026 and no indication of its completion yet on EOD charts. So much deeper and sharp correction begun from life time top which is now in contiuation forcefully with its recent bottom formations at 24919.80 on 21-01-2026 after loosing 1453 points in only 12 sessions as well as no indication of its completion also on EOD and intraday charts.
Averages are confirming that Very Short Term to Intermediate Term Trends have turned down but Long Term Trend is now at stake and finally sustaining beyond its decider 200-Day SMA(today at 25143) will confirm next one side bigger moves beginning. Although Short Term indicator MACD is showing more Downward moves possibility but another Short Term indicator Stochastic has generated first signal of fresh upward movs beginning as well as last Friday intraday charts are showing lower levels supports also therefore firstly sustaining beyond following next resistances and levels should be watched in the coming week for next decisive and bigger moves beginning confirmations.
1- Long Term Trend decider 200-Day SMA(today at 25143)
2- 25302-25347
3- 25441-25485
4- 25594-25712
5- 25883-25942
6- 26069-26108
7- 26149-26181
8- 26216-26260
9- 26329-26373
Next Supports below last Friday lowest are as follows:-
1- 24905-24945
2- 24773-24850
3- 24602-24679
4- 24550-24618
5- 24356-24462(Strong supports).
6- 24165-24337(Gap Support).
7- 24042-24139
8- 23859-23987
As Union Budget 2026–27 will be presented on 1st February 2026, while the Economic Survey is expected on 29th January 2026 and Union Budget announcements led huge volatility will also be seen but finally sustaining beyond Long Term Trend decider 200-Day SMA(today at 25143) will generate next bigger moves hence:-
1- Firstly sustaining beyond Long Term Trend decider 200-Day SMA(today at 25143) should be watched.
and
2- Finally sustaining beyond above mentioned next resistances and supports should be watched according to Nifty sustaining beyond 200-Day SMA(today at 25143) Upper side or Lower side.