Sustaining beyond 24428-24677 will

 generate first strong signal of next

 decisive bigger moves beginning

Technical Analysis,Research & Weekly

Outlook(Aug 10 to Aug 14,2026)

Nifty-EOD Chart Analysis

(Waves structure)

Nifty-EOD Chart (07-Aug-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- Previous 79 sessions trading range(23071-24601) broken out on 03-08-2026.

8- Pull Back Rally continuation with recent top formations at 24774.30 on 06-08-2026.

9- Last 5 Sessions actual trading between 24428-24677.

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 begun from the bottom of corrective Wave-ii of Wave-5 which is now in continuation with its recent top formations at 24774.30 on 06-08-2026 and no confirmation of its completion yet on EOD charts.

Nifty traded in the previous 79 sessions of last week between 23071-24601 and in all the 5 sessions of last week Nifty hovered around 24601 and actually traded between 24428-24677. As previous week closing was between previous 79 sessions trading range at 24570.65 therefore firstly sustaining beyond last 5 sessions trading range(24428-24677) should be watched in the coming week because:-

1- Sustaining above 24677 will generate bigger upward moves after previous 79 sessions like bigger range broken out confirmations above 24601.  

2- Sustaining below 24428 will mean invalid break out above 24601 in previous week and fresh selling above and below it therefore decisive downward moves will be seen towards the lowest(23071) of previous 79 sessions trading range.

Nifty-EOD Chart Analysis

(Stochastic & MACD)

Nifty-EOD Chart (07-Aug-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 from Over bought zone.

2- Stochastic:- %K(5)- 62.19 & %D(3)- 72.94.

3- In MACD- MACD line has intersected Average line upward and its both lines are rising in positive zone.

4- MACD(26,12)- 236.40 & EXP(9)- 44.32 & Divergence- 192.08

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 from Over bought zone therefore it will be understood that this indicator is signalling Short Term Downward moves beginning possibility.

2- As in MACD indicator its MACD line has intersected Average line upward and its both lines are rising in positive zone therefore it will be understood that this indicator is suggesting that fresh upward moves will be seen after Short Term upward Trend formations.

Nifty-EOD Chart Analysis

(Averages)

Nifty-EOD Chart (07-Aug-2026):-

Technical Patterns and Formations in EOD charts

Averages:-

1- 5-Day SMA is today at 24644(Very Short Term Trend decider) 

2- 21-Day SMA is today at 24346(Short Term Trend decider) 

3- 55-Day SMA is today at 23971(Intermediate Term Trend decider) 

4- 100-Day SMA is today at 23834

5- 200-Day SMA is today at 24764(Long Term Trend decider) 

 

Conclusions from EOD chart

analysis (Averages)

Although Nifty tested Long Term Trend decider 200-Day SMA on 03-08-2026 but Nifty closed below it in all the last 5 sessions of previous week therefore it will be understood that Long Term Trend is now at stake. As Nifty has closed well above  Short Term and Intermediate Term Trends deciding 21-Day and 55-Day SMAs in the last 5 sessions of previous week therefore these 2 Trends are now up but Very Short Term Trend is also at Stake now because Nifty is hovering around its decider 5-Day SMA for the last 4 sessions.

Nifty-Last 5 Sessions intraday

charts analysis

Nifty-Intra Day Chart (Aug 03 to Aug 07,2026):-

Technical Patterns formation in last 5 Sessions intraday charts

1- Selling(Resistances) in last 5 Sessions are as follows:-

A-  24596-24627

B-  24575-24648

C-  24634-24677

2- Consolidation(Supports) in last 5 Sessions are as follows:-

A- 24527-24556

B- 24498-24547

C- 24428-24497

3- Last 5 Sessions actual trading between 24428-24677. 

Conclusions from 5 Sessions

intra day chart analysis 

Before previous week last 79 sessions trading was between 23071-24601 and Nifty hovered around 24601 in all the 5 sessions of previous week with above mentioned supports and resistances between 24428-24677. As Nifty closed last Friday within 79 sessions trading range(23071-24601) at 24570.65 therefore expected Nifty will firstly trade within last 5 sessions actual trading range(24428-24677) and prepare for next decisive moves beyond this range.   

It should be kept in mind that once sustaining above last 5 sessions trading highest(24577) will mean break out confirmation of previous 79 sessions trading range(23071-24601) which will generate bigger upward moves. As on the contrary break down confirmation of last 5 sessions trading range after sustaining below 24428 will mean decisive downward moves beginning confirmation also  therefore firstly sustaining beyond last 5 Sessions range(24428-24677) should be watched in the coming week for next bigger one sided decisive moves beginning confirmations.

Conclusions (After putting

all studies together)

1- Very Short Term Trend is at Stake.

2- Short Term Trend is Up.

3- Intermediate Term Trend is Up.

4- Long Term Trend is at Stake..

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 Back Rally begun from this level which is now in continuation with recent top formations at 24774.30 on 06-08-2026 and no confirmation of its completion also.

Although Short Term indicator MACD is signalling upward moves beginning possibility but another Short Term indicator Stochastic is indicating downward moves continuation possibility  therefore it will be understood that Short Term indicators are not showing clear signals of one sided bigger moved beginning because Nifty is trading sideways firstly in previous 79 sessions and secondly in the last 5 sessions of previous week.

Short Term and Intermediate Term Trends are now up and firstly sustaining beyond last 5 sessions actual trading range(24428-24677) will generate first strong signal of next decisive bigger moves beginning as well as next Trend formations also therefore supports and resistances within this range has been updated above which should be firstly watched in the coming week for next signals of one sided decisive moves beginning.

Downward moves towards next Supports

Nifty-Intra Day Chart Analysis &

Market Outlook(07-08-2026)

Nifty-Intra Day Chart (06-Aug-2026):-

Technical Patterns formation in today intraday charts

1- Whole day sideways trading with selling patterns indications between 24605-24677.

2- Whole day actual trading between 24605-24677.

Conclusions from intra day

chart analysis

Live proofs of our Levels 

& analysis accuracy 

Following lines were told at 12:29 AM on 06-08-2026 in "Upward moves towards 24677":-

Upward moves are expected towards 24677 and firstly sustaining it beyond should be watched tomorrrow

As was told 100% same happened and:- 

1- Upward moves were seen towards and exactly upto 24677

2- Tuday highest was at 24677.05.

As whole day sideways trading with selling patterns indications between 24605-24677 today therefore firstly downward moves are expected towards next supports(24498-24547) tomorrow and firstly sustaining beyond this supports range should be watched tomorrow for next intraday decisive moves beginning confirmations. 

Upward moves towards 24677

Nifty-Intra Day Chart Analysis &

Market Outlook(06-08-2026)

Nifty-Intra Day Chart (05-Aug-2026):-

Technical Patterns formation in today intraday charts

1- Volatility in first 2 hours between 24564-24663

2- Downward moves in Mid-Session

3- Consolidation in last 3 hours between 24498-24547

4- Whole day actual trading between 24498-24677

Conclusions from intra day chart analysis 

Although firstly volatility in first 2 hours and after that downward moves were also seen in Mid-Session but consolidation developed in last 3 hours between 24498-24547 therefore:-

1- Upward moves are expected towards 24677 and firstly sustaining it beyond should be watched tomorrrow for next intraday decisive moves beginning confirmations.

2- 24498-24547 will be immediate supports of Nifty and until Nifty will not sustain below it after complete intraday selling till then next decisive downward moves will not be seen.

Finally sustaining beyond 24428-24648 will generate next intraday decisive moves beginning

Nifty-Intra Day Chart Analysis & 

Market Outlook(05-08-2026)

Nifty-Intra Day Chart (04-Aug-2026):-

Technical Patterns formation in today intraday charts

1- Selling in first 2 hours between 24575-24648

2- Downward moves

3- Consolidation in last 3 hours between 24428-24497

4- Whole day trading between 24428-24703

Conclusions from intra day chart analysis 

Although firstly selling in first 2 hours and downward moves were also seen in Mid-Session but lower levels consolidation developed in the last 3 hours therefore expected that Nifty will firstly trade and prepare for for next decisive moves between and near about 24428-24648 as well as finally sustaining beyond this range will generate next intraday decisive moves beginning.

Sustaining beyond 24575-24608 will confirm next intraday decisive moves beginning

Nifty-Intra Day Chart Analysis &

Market Outlook(04-08-2026)

Nifty-Intra Day Chart (03-Aug-2026):-

Technical Patterns formation in today intraday charts

1- Up moves with downward corrections

2- More than 5 hours sideways trading between 24575-24608

3- Whole day trading between 24516-24774

Conclusions from intra day chart analysis 

As Trump cancels strikes on Iran and all of a sudden taken a big U-Turn therefore firstly 143 points gap up opening and after that upward moves with downward corrections were seen therefore Nifty traded above the top of last 79 sessions trading range(24601) in first 6 hours. Although all of a sudden big jump was seen in last minute but more than 5 hours sideways trading was seen between 24575-24608 therefore firstly sustaining beyond this range should be watched tomorrow for next next intraday decisive moves beginning confirmations because selling patterns were also seen within this range despite 1.60% positive today closing. 

Strong rally after Trump announcement 

of strikes cancellation on Iran

Mid-session Outlook(03-08-2026)

Trump cancels strikes on Iran, says talks to resume: Decoding the big U-turn by the US president

Aug 03, 2026, 08:54:21 IST

US President Donald Trump has made quite a few aggressive threats against Iran only to walk back on some of them. The latest instance came late last week. Last Friday (July 31), the American leader vowed to hit the Islamic Republic “very hard”. Later on Sunday (August 2), he announced that “we have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack”, claiming that “the perimeters of a deal have been agreed to”.

Above News Link:-

https://www.firstpost.com/explainers/trump-iran-war-strikes-paused-talks-u-turn-gulf-nations-14035532.html

As most positive above news on US-Iran came in the morning today therefore Dow Jones Futures was trading more than 270 points up and resultant Nifty opened 189 points up and since then upward moves are continued. 

Now only sustaining beyond last 79 sessions trading range highest(24601) should be watched because once sustaining above it will generate strong rally beginning towards life time top after valid break out of last 79 sessions like bigger trading range.