Pull Back Rally beginning expectations
& firstly watch next resistances
Technical Analysis,Research & Weekly
Outlook(Sep 14 to Sep 18,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (11-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 copletion after its top formations at 24774.30 on 03-08-2026.
8- Short Term correction continuation with recent bottom formations at 23231.40 on 11-09-2026.
9- Last 104 sessions trading between 23071-24774.
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 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 started from the bottom of corrective Wave-ii of Wave-5 which completed after its top formations at 24774.30 on 03-08-2026. Short Term correction which begun from 24774.30 is now in continuation with its recent bottom formations at 23231.40 on 11-09-2026 and no confirmation of its completion also on EOD Charts.
As US President Donald Trump suddenly announced ceasefire of Middle East war therefore 701 Points gap up opening was seen on 08-04-2026 and since then Nifty is trading between 23071-24774 for the last 109 sessions. It is clear that Nifty is preparing for next one sided bigger moves within this range. Let Nifty to sustain beyond this 109 sessions trading range then that side next one sided bigger moves will be seen.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (11-Sep-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 sold zone.
2- Stochastic:- %K(5)- 13.64 & %D(3)- 08.08.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -333.78 & EXP(9)- -239.24 & Divergence- -94.54
Conclusions from EOD chart analysis
(Stochastic & MACD)
Technical positions of Short Term indicators are as follows:-
1- As in Stochastic indicator %K(5) line has intersected %D(3) line upward and its both lines are rising in Over sold zone therefore it will be understood that this indicator has generated 1st signal of next Short Term upward moves beginning. Let Nifty to move above Oversold zone that this upward move 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 is confirming Short Term downward Trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (11-Sep-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23544(Very Short Term Trend decider)
2- 21-Day SMA is today at 23997(Short Term Trend decider)
3- 55-Day SMA is today at 24144(Intermediate Term Trend decider)
4- 100-Day SMA is today at 23988
5- 200-Day SMA is today at 24544(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is continuously closing below all the Very Short Term to Long Term Trends deciding 5-Day to 200-Day SMAs for the last 8 sessions therefore now all the Trends are down.
Nifty-Intra Day Chart Analysis
(11-Sep-2026)
Nifty-Intra Day Chart (11-Sep-2026):-
Technical Patterns formation in today intraday charts
1- Support between 23237-23268
2- Upward move
3- Consolidation between 23274-23307
4- Upward move
5- Consolidation between 23315-2358
6- Sharp up
7- Consolidation between 23385-23437
8- Whole day actual trading between 23232-23448
Conclusions from intra day
chart analysis
Although Nifty was 246 points down in first minute after 207 points weaker opening but lower levels supports developed in first hour therefore upward moves started from lower levels. As after that whole day upward moves were seen with continuous 3 times consolidation therefore Nifty closed near the higher levels of the day. Although Nifty closed 79.70 points down last Friday but whole day good intraday consolidation was also developed 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 brgun 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 started from this level which completed at 24774.30 on 03-08-2026 and correction begun from this level which is now in continuation also with its recent bottom formations at 23231.40 on 11-09-2026 and no confirmation of its completion yet on EOD Charts.
As correction continuation forcefully for the last 29 sessions therefore all the Trends have turned down. Although Short Term indicator MACD is also confirming Short Term downward Trend formations and more downward moves possibility also but another Short Term indicator Stochastic has shown signals of fresh upward moves beginning. As last Friday intraday charts are also showing whole day good intraday consolidation patterns formations therefore firstly Pull Back Rally beginning is expected in the beginning of coming week and firstly sustaining beyond following next resistances should be watched one by one in the coming week for the next intraday decisive moves beginning confirmations:-
1- 23518-23571
2- 23572-23624(Gap Resistance)
3- 23649-23706
4- 23753-23782
5- All the resistances above 23782 have already been updated in the previous weekly Outlook.
Next supports below last Friday intraday highest(23448.10) are as follows:-
1- 23385-23437
2- 23315-2358
3- 23274-23307
4- 23237-23268
5- All the supports below 23237 have already been updated in the previous weekly Outlook.