On Wednesday, Nepse fell by 22.11 points (fell 0.78%) to 2813.47. Of the 223 companies traded, 20 rose, 165 declined and 6 remained unchanged.
Of the thirteen subgroups traded, the share prices of all subgroups have declined.
Market capitalization has declined to Rs. 3 trillion and 97 billion.
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Technical Analysis
NEPSE Update: February 9, 2022
Technical Analysis Indicators
1. Bollinger Bands:
Analysis shows that the difference between the upper and lower band of Bollinger Bands has decreased (today's difference: 206.77) which indicates that the volatility in the market has decreased today. The market today closed between the middle band (2863.88) and the lower band (2760.49).
Moving Average Convergence Divergence analysis shows that the MACD line and the signal line are above the zero line. The histogram is at 15.13. The MACD line has come down from (43.66) points to (37.75) points. The signal line has decreased. The MACD line and the signal line appear to have diverted.
3. Directional Movement:
Directional movement indicator has increased by -14 DMI. The ADX line and the +14 DMI line have decreased. Which indicates an increase in selling momentum in the market.
4. Candlesticks: Today, Nepse has created the Bearish Maraboju Candlestick, which signifies Bearish market trend.
5. Cumulative AD line:
NEPSE Update: February 9, 2022
The cumulative AD line has come down from yesterday, 1969 to 2114. The total volume of Nepse stood at 5,663,334 which is 53 percent of the 21-day moving average volume (10,606,403.90).
Today, Nepse is held between the middle and lower bands, which seems to be unable to determine the direction of the market. The MACD line is above the zero line and the signal line is also above the zero line while the histogram is at 15.13. The MACD line can be seen below the signal line and the selling seems to have increased.
The -14 DMI line has increased while the +14 DMI line and ADX line have decreased which indicates an increase in selling momentum in the market. The RSI today fell to 51.42 from 53.97, indicating a slight decline in RSI momentum.
The nearest support to the next day of Nepse seems to be the area of lower band 2760, the nearest obstruction of Nepse is the area of 2925 and 2967 (upper band). If the market corrects in a few days, it seems that the lower band can take support in the area.
Source: laltin.com
