Middle East war escalation or
De-escalation & accordingly
sustaining beyond 55-Day &
200-Day SMAs will confirm
next one sided bigger
moves beginning
Technical Analysis,Research &
Weekly Outlook
(May 04 to May 08,2026)
Nifty-EOD Chart Analysis
(Waves structure)
Nifty-EOD Chart (30-Apr-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 continuation with recent top formations at 24601.70 on 21-04-2026.
8- Correction continuation with recent bottom formations at 23796.85 on 30-04-2026.
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 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 continuation and no confirmation of its completion also on EOD charts after its recent lowest formations at 22182.55 on 02-04-2026. Pull Back Rally begun from this level which is now in continuation with recent top formations at 24601.70 on 21-04-2026 and no confirmation of its completion also on EOD charts. Correction started from this level which is also in continuation with its recent bottom formations at 23796.85 on 30-04-2026.
As all the Global Financial markets and Crude Prices are reacting daily on Trump and Iran Govt Statements as well as according to these statements Middle East war escalation and De-escalation possibilities are changing fast on daily and even hourly basis therefore until Nifty will not sustain above or below any crucial level till then that side next Trend formation will not get confirmations hence firstly sustaining beyond crucial levels should be watched in the coming week/weeks for next Trend formation confirmations.
Nifty-EOD Chart Analysis
(Stochastic & MACD)
Nifty-EOD Chart (30-Apr-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)- 44.37 & %D(3)- 37.37.
3- In MACD- MACD line has intersected Average line downward and its both lines are falling in positive zone.
4- MACD(26,12)- 477.31 & EXP(9)- 638.12 & Divergence- -160.81
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 from Over sold zone therefore it will be understood that this indicator is suggesting fresh and more upward moves beginning possibility in the coming week.
2- As in MACD line has intersected Average line downward and its both lines are falling in positive zone therefore it will be understood that MACD indicator has generated first signal of Short Term downward trend formations and more downward moves possibility also.
Nifty-EOD Chart Analysis
(Averages)
Nifty-EOD Chart (30-Apr-2026):-
Technical Patterns and Formations in EOD charts
Averages:-
1- 5-Day SMA is today at 24032(Very Short Term Trend decider)
2- 21-Day SMA is today at 23806(Short Term Trend decider)
3- 55-Day SMA is today at 24293(Intermediate Term Trend decider)
4- 100-Day SMA is today at 24960
5- 200-Day SMA is today at 25098(Long Term Trend decider)
Conclusions from EOD chart
analysis (Averages)
As Nifty is hovering around Very Short to Intermediate Term Trends deciding 5-Day,21-Day and 55-Day SMAs for the last 10 sessions therefore there 3 Trends are now at Stake. Nifty is continuously trading and closing well below Long Term Trend decider 200-Day SMA for the last more than 2 months therefore Long Term Trend is now down.
Nifty-Intra Day Chart
Analysis(30-Apr-2026)
Nifty-Intra Day Chart (30-Apr-2026):-
Technical Patterns formation in today intraday charts
1- 380 Points down in first two hours after 63 points gap down and 180 points weaker opening
2- Consolidation between 23797-23854
3- Upward moves with downward corrections
4- Volatility in last 2 hours between 23965-24087
5- Whole day trading between 23797-24087
Conclusions from intra day
chart analysis
Although firstly 380 Points down in first two hours after 63 points gap down and 180 points weaker opening but lower levels almost 2 hours consolidation was also seen therefore upward moves developed from intraday lower levels. As these upward moves were with downward corrections therefore strong recovery was seen in Mid Session from intraday lower levels.
As more than 100 points volatility developed in last 2 hours between 23965-24087 therefore firstly sustaining beyond this volatility range should be watched in the beginning of coming week because many times technical positions changes also completely during such high intraday volatility.
Conclusions (After putting all
studies together)
1- Very Short Term Trend is at stake.
2- Short Term Trend is at stake.
3- Intermediate Term Trend is at stake.
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 started more than 3 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 indication of its completion yet on EOD charts. Although Middle East war escalation risk but Pull Back Rally begun from this level which is now in continuation with recent top formations at 24601.70 on 21-04-2026. As now correction continuation with recent bottom formations at 23796.85 on 30-04-2026 and its recent bottom was formed in previous trading session also therefore firstly sustaining beyond following next supports below last Thursday closing(23997.55) should be watched one by one in the coming week for next decisive moves beginning confirmations:-
1- 23797-23854
2- 23604-23740
3- 23154-23555(Gap Supports)
4- 22821-22940
5- 22567-22682
6- 22295-22424
7- 22183-22284
8- 21825-22021
9- 21711-21791
10- 21653-21690
11- 21544-21628
Although Short Term indicator MACD is suggesting downward moves beginning possibility but another Short Term indicator Stochastic is showing signals of fresh upward moves beginning possibility and Nifty closed after 200 points recovery from intraday lower levels after lower levels good intraday consolidation also therefore if no negative news comes from Middle-East war front then fresh upward moves will be seen above last Thursday closing(23997.55) and then following next resistances should be watched one by one for next decisive moves beginning confirmations in the coming week/weeks:-
1- 24190-24219
2- 24266-24328
3- 24387-24453
4- 24533-24579
5- 24596-24700
6- 24830-24963
7- 24990-25141
8- 25272-25350
9- 25493-25572
10- 25588-25652
11- 25718-25754
12- 25775-25820
13- 25842-25881
14- 25947-25984
15- 26069-26108
16- 26149-26181
17- 26216-26260
18- 26329-26373
As Intermediate Term Trend is now at Stake and finally sustaining beyond its decider 55-Day SMA will confirm its final formations and:-
1- If Nifty sustains above 55-Day SMA with Middle East war De-escalation strong signals then it will be first signal of next upward Trend formations but until Nifty will not sustain above Long Term Trend deciding 200-Day SMA till then upward Trend formations will not get confirmations because Long Term Trend is now down.
2- If finally Nifty sustains below 55-Day SMA then it will be confirmation of downward Trend formations and emergence of deeper correction begining possibility also because Long Term Trend is already down.
As next one sided bigger moves of Indian Stock Markets will get confirmations according to:-
1- Middle East war escalation or De-escalation
and also
2- Through next Trend formations according to sustaining beyond 55-Day & 200-Day SMAs
Therefore sustaining beyond these 2 SMAs should be firstly watched in the coming week/weeks/months for next one sided bigger moves beginning confirmations.