On Monday, the NEPSE index rose by 15.69 points ( increased by 0.55%) to 2851.86. Of the 224 scrips traded, 105 rose, 70 declined and 15 remained unchanged.
Out of the 13 sub-groups traded, share prices of 10 sub-groups have risen and share prices of 3 sub-groups have declined.
The market capitalization has increased to Rs. 4 trillion 30 billion.
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Technical Analysis
NEPSE Update: February 7, 2022
Technical Analysis Indicators
1. Bollinger Bands:
The analysis shows that the difference between the upper and lower bands of the Bollinger Bands has decreased (today's difference: 213.9) which indicates that the volatility in the market has decreased today. The market closed below the middle band (2857.82) today, which indicates that the market could test the lower band.
2. Moving Average Convergence Divergence:
Moving Average Convergence Divergence analysis shows that the MACD line and the signal line are above the zero line. The histogram is at 11.70. The MACD line has come down from 51.89 points to 48.16 points. The signal line has decreased. Both the MACD line and the signal line seem to be moving downwards which means that the market may see a correction or sideways move in a few days.
3. Directional movement:
The Directional Movement Indicator has shown a decrease of +14 DMI line, while the -14 DMI line has also decreased by a small number and at the same time the ADX line has decreased by a small number. Which seems to be a correction in the market in a few days.
4. Candlestick:
Nepse has made a greenbody candlestick today which indicates uncertainty.
5. Cumulative AD Line:
The cumulative AD line has increased from 1904 to 1869. The total volume of Nepse stood at 8,548,647 which is 77 percent of the 21-day moving average volume (11,038,786.43).
Nepse has closed below the middle band today. The market seems to have broken the support area of the middle band. The MACD line is above the zero line and the signal line is also above the zero line. The histogram is at 11.58. The MACD line appears to have crushed the signal line and gone down. If the MACD line crosses the signal line and goes upwards, it shows a positive signal and if it stays consolidated in the same area, Nepse may go sideways or down for a few days. +14 DMI line has decreased ADX line and -14 DMI line has also decreased. RSI today rose from 54.42 to 55.85 which indicates a slight increase in RSI momentum. The closest support for the next day of Nepse seems to be the area of 2760. The closest obstruction of Nepse seems to be the area of 2862 (middle band) and the area of 2930.
Source: laltin.com
