Firstly Upward moves and finally
sustaining beyond 23071 will
confirm next one sided
bigger moves beginning
Technical Analysis, Research & Weekly
Outlook(Sep 28 to Oct 01,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (25-Sep-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 completion after its top formations at 24774.30 on 03-08-2026.
8- Correction continuation with recent bottom formations at 23020.95 on 25-09-2026.
9- Previous 116 sessions trading range(23071-24774) broken down on 24-09-2026 but Nifty closed above 23071 at 23140.50 on 25-09-2026 and now last 118 sessions trading range is 23021-24774.
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 begun from 15183.40 on 17-06-2022. 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 from the bottom of corrective Wave-ii of Wave-5 which completed after its top formations at 24774.30 on 03-08-2026. That correction which started from 24774.30 is now in continuation with its recent bottom formations at 23020.95 on 25-09-2026 and no confirmation of its completion also on EOD Charts.
Nifty traded in the previous 116 sessions between 23071-24774 and this range was broken down on 24-09-2026. As Nifty closed above 23071 at 23140.50 on 25-09-2026 therefore:-
1- Firstly sustaining below the lowest of previous 116 sessions range(23071-24774) should be watched in the coming week/weeks for valid break down confirmation of the previous 116 trading range
2- Now last 118 sessions trading will be understood between 23021-24774 because till now Nifty has not sustained below the lowest of previous 116 sessions trading range.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (25-Sep-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)- 38.26 & %D(3)- 51.90.
3- In MACD- Its both MACD line and Average line are kissing in negative zone.
4- MACD(26,12)- -402.49 & EXP(9)- -423.62 & Divergence- 21.13.
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 sold zone therefore it will be understood that this indicator is showing signals of downward 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 (25-Sep-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23272(Very Short Term Trend decider)
2- 21-Day SMA is today at 23560(Short Term Trend decider)
3- 55-Day SMA is today at 24002(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23911
5- 200-Day SMA is today at 24412(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is continuously closing below Short, Intermediate and Long term Trends deciding 21-Day,55-Day and 200-Day SMAs in the last 17 sessions therefore these 3 Trends are now down. Although Nifty was hovering around Very Short Term Trend deciding 5-Day SMA and Very Short Term Trend was at stake also but Nifty has opened and closed below 5-Day SMA in the last 2 sessions therefore now Very Short Term Trend has also turned down.
Nifty-Intra Day Chart
Analysis(25-Sep-2026)
Nifty-Intra Day Chart (25-Sep-2026):-
Technical Patterns formation in today intraday charts
1- More than 4 hours consolidation between 23024-23104
2- Sharp up
3- Consolidation in last hours between 23106-23137
4- Whole day actual trading between 23021-23162
Conclusions from intra day
chart analysis
As previous 116 sessions trading range(23071-24774) was broken down on 24-09-2026 and Nifty closed below it also at 23046.70 that day therefore sentiment was dampened last Friday morning hence Nifty opened in Red. Although such Bearish mood last Friday morning but firstly more than 4 hours consolidation was seen between 23024-23104 therefore sharp upward move developed in Mid-Session. As follow up consolidation was seen in last hours also between 23106-23137 therefore firstly upward moves are expected in the beginning of coming week.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is Down.
2- Short Term Trend is Down.
3- Intermediate Term Trend is Down.
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 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 23020.95 on 25-09-2026 and no confirmation of its completion yet on EOD Charts.
As almost 2 months sharp correction therefore all the trends are now down. Although at present Short Term indicator MACD is not showing any side decisive moves beginning signal but another Short Term indicator Stochastic is suggesting some downward moves possibility therefore it will be understood that at present indicators are not concluding any side decisive moves beginning possibility.
Although previous 116 sessions trading range(23071-24774) was broken down on 24-09-2026 and new lowest of on going correction was formed at 23020.95 on 25-09-2026 also but whole day good intraday consolidation developed last Friday therefore Nifty closed near the intraday higher levels of the day at 23140.50 on 25-09-2026. As 23140.50 is within previous 116 sessions trading range therefore firstly sustaining beyond previous 116 sessions trading lowest(23071) should be watched in the coming week/weeks because that will confirm next one sided bigger moves beginning.
Next 11 Resistances above last Friday closing are as follows:-
1- 23202-23266
2- 23282-23349(Gap resistance)
3- 23423-23469
4- 23537-23571
5- 23572-23623(Gap resistance)
6- 23649-23706
7- 23753-23782
8- 23931-23965
9- 23979-24005
10- 24049-24098
11- 24102-24141
Next 11 Supports below last Friday closing are as follows:-
1- 23024-23104
2- 23106-23137
3- 22821-22940
4- 22567-22682
5- 22291-22424
6- 22183-22284
7- 21825-22021
8- 21795-21860
9- 21711-21791
10- 21653-21690
11- 21544-21628