Nifty & Bank Nifty – Weekend Report – 04.10.2026

NIFTY 

Nifty ended this week by making a low of 22,218, which is very close to the previous swing low of 22,182. If the price moves below 22,182, it would confirm that we are still in a corrective pattern and that no impulse wave has started yet. I believe the price may move below 22,182 in the coming days, as our primary view remains that the correction is not yet over.

Chart from 18^th June (corrective pattern)

So, the price may still continue its decline and could reach the 21,920–21,750 zone. However, a breakdown below 22,182 is necessary for this view to play out, as 22,182 remains an important support level. 

I still expect the current decline toward 21,920–21,750 to be part of the 3rd wave. If there is a gap down below this zone or a fast price action below these levels, it could lead to a further decline, as the correction limit is placed between 21,200–20,500.

EXPECTATION FOR THIS WEEK

If there is no gap down or fast price action below our marked levels, we can expect some support or a bounce from the 21,920–21,750 zone.

BANK NIFTY 

Though Nifty is near support, Bank Nifty still has some room for further decline in this 3rd wave. The price could decline toward the 52,780–52,250 zone, with a possible pause or some support near the 53,260 level.

For a detailed analysis of Nifty, Bank Nifty, broader markets and commodities such as Crude Oil, Gold, Silver and Natural Gas, along with Bitcoin, you can check out this video

👉You can also read my recent blogs here - https://www.magicfibs.com/blog

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