| Numancia beat Racing Santander 2-1 (H) on 11 Dec 1949 |
| Racing Santander beat Orensana 4-1 (H) on 30 Oct 1949 |
| Orensana beat Osasuna 1-0 (H) on 9 Oct 1949 |
| Osasuna beat Racing Ferrol 4-3 (A) on 4 Dec 1949 |
| Racing Ferrol beat Arosa 7-0 (H) on 18 Sep 1949 |
| Arosa beat Girona 2-1 (H) on 2 Oct 1949 |
| Girona beat Gimnástica Torrelavega 2-1 (H) on 13 Nov 1949 |
| Gimnástica Torrelavega beat Barakaldo 2-1 (H) on 20 Nov 1949 |
| Barakaldo beat Real Zaragoza 1-0 (H) on 13 Nov 1949 |
| Real Zaragoza beat Badalona 2-0 (H) on 11 Sep 1949 |
| Badalona beat Sporting Gijón 2-1 (H) on 23 Oct 1949 |
| Sporting Gijón beat Erandio 3-0 (H) on 18 Sep 1949 |
| Erandio beat Lleida 4-1 (H) on 13 Nov 1949 |
| Lleida beat SG Lucense 9-2 (H) on 20 Nov 1949 |
| SG Lucense beat Sabadell 1-0 (H) on 16 Oct 1949 |
| Sabadell beat Numancia 6-2 (H) on 6 Nov 1949 |
HWC: Thick arrows show the earliest chain of wins that passes through every team and returns to its start.