Short Term correction continuation
& firstly watch next supports
one by one
Technical Analysis,Research & Weekly
Outlook(Sep 07 to Sep 11,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (04-Sep-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 continuation with recent top formations at 24774.30 on 03-08-2026.
11- Short Term correction continuation with recent bottom formations at 23786.80 on 02-09-2026.
12- Last 104 sessions trading between 23071-24774.
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 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 is now in continuation with its recent top formations at 24774.30 on 03-08-2026 and no confirmation of its completion yet on EOD charts. Short Term correction which begun from 24774.30 is now in continuation with its recent bottom formations at 23786.80 on 02-09-2026 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 104 sessions. It is clear that Nifty is preparing for next bigger one sided moves within this range and let Nifty to sustain beyond this 104 sessions trading range then that side such bigger one sided moves will be seen.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (04-Sep-2026):-
Technical Patterns and Formations in EOD charts
1- Stochastic- %K(5) line has intersected %D(3) line downward and its both lines %K(5) and %D(3) are kissing just above Over sold zone.
2- Stochastic:- %K(5)- 25.90 & %D(3)- 24.48.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in negative zone.
4- MACD(26,12)- -203.01 & EXP(9)- -152.58 & Divergence- -50.43
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 downward and its both lines %K(5) and %D(3) are kissing just above Over sold zone therefore it will be understood that at present this indicator is not clearly showing any side decisive moves beging possibility. Let its %K(5) line to intersect %D(3) line upper or lower side then that side next decisive Short Term Upward or 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 confirmed Short Term downward Trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (04-Sep-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 23964(Very Short Term Trend decider)
2- 21-Day SMA is today at 24222(Short Term Trend decider)
3- 55-Day SMA is today at 24186(Intermediate Term Trend decider)
4- 100-Day SMA is today at 24028
5- 200-Day SMA is today at 24606(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty has closed below Short,Intermediate and Long term trends deciding 21-Day,55-Day and 200-Day SMAs in the last 7 and more sessions therefore these 3 Trends are down. Nifty is hovering around Very Short Term Trend deciding 5-Day SMA for the last 3 session therefore now Very Short Term Trend is at stake.
Nifty-Intra Day Chart Analysis
(04-Sep-2026)
Nifty-Intra Day Chart (04-Sep-2026):-
Technical Patterns formation in today intraday charts
1- Support between 23898-23914
2- Upward moves
3- Selling between 23979-24005
4- Downward moves
5- Selling between 23931-23965
6- Whole day actual trading between 23896-24005
Conclusions from intra day
chart analysis
Although firstly some downward moves after positive opening but lower levels minor supports developed therefore upward moves were seen and Nifty moved up more than 100 points from intraday lower levels. As higher levels selling developed therefore downward moves were seen in Mid-Session. Follow up selling was seen in the last 3 hours also therefore it is clear from the last Friday intraday charts patterns formations that;-
1- Lower levels minor supports and higher levels good selling developed last Friday
therefore
2- Downward moves are expected in the beginning of coming week.
Conclusions (After putting
all studies together)
1- Very Short Term Trend is at Stake.
2- Short Term Trend is Down.
3- Intermediate Term Trend is Down.
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 24774.30 on 03-08-2026 and correction started from this level which is now in continuation also with its recent bottom formations at 23786.80 on 02-09-2026 and no confirmation of its cpomplrtion yet on EOD Charts.
As there is complete uncertainty and confusion regarding Middle East war escalation or De-escalation possibility and status of the vital Strait of Hormuz also therefore anyside bigger trending moves are not being seen as well as Nifty has turned sideways between 23071-24774 for the last 104 sessions.
Short Term correction continuation for the last 23 sessions therefore now Short,Intermediate and Long term trends are down and Very Short Term Trend is at stake. Although Short Term indicator Stochastic is not clearly showing any side decisive moves beging possibility now but another Short Term indicator MACD has confirmed Short Term downward Trend formations and more downward moves possibility also.
As last Friday intraday charts are showing good intraday selling patterns formations and Short Term correction continuation also therefore downward moves are expected in the beginning of coming week and finally sustaining beyond following next supports should also be watched one by one in the coming week/weeks/months for next decisive moves beginning confirmations:-
1- 23895-23934
2- 23806-23848
3- 23743-23805
4- 23607-23673
5- 23314-23386
6- 23202-23248
7- 23095-23122
8- 22821-22940
9- 22567-22682
10- 22291-22424
11- 22183-22284
12- 21825-22021
13- 21795-21860
14- 21711-21791
15- 21653-21690
16- 21544-21628
Following all the next resistances above last Friday closing and upto life time top(26373.20) should be watched one by one after on going Short Term correction completion and fresh decisive upwards moves beginning:-
1- 23931-23965
2- 23979-24005
3- 24049-24098
4- 24102-24141
5- 24254-24297
6- 24310-24333
7- 24345-24378
8- 24451-24472
9- 24575-24677
10- 24830-24963
11- 24990-25141
12- 25272-25350
12- 25493-25572
14- 25588-25652
15- 25718-25754
16- 25775-25820
17- 25842-25881
18- 25947-25984
19- 26069-26108
20- 26149-26181
21- 26216-26260
22- 26329-26373