NEPSE Index declined by 9.50 points; Bishal Bazar Company rises by 33.86%; Prime Commercial Bank traded most (Weekly Wrap up)

Fri, Nov 6, 2020 12:45 PM on Stock Market, Weekly Analysis, Featured,

-ShareSansar

NEPSE Index declined 9.5 points (0.58%) in the trading week between 1^st November to 5^th November 2020. Last Week market closed at 1645.67 points and this week closed at 1636.17 points on Thursday. 19.77 points volatility was witnessed this week, with the market reaching the highest 1654.15 and the lowest 1634.38.

Candlestick pattern:

One green and four red candles were formed this week.

Exponential Moving Average:

We have used EMA's of 5 days' time period (blue line), 20 days' time period (red line). At present, NEPSE Index is above both 5 days EMA and 20 days EMA. Values above moving average signals for bullishness. Golden cross signal was generated by moving average on 18th of October,2020.

Moving Average Convergence and Divergence:

MACD line (blue) and the signal line (red line) are in positive zone. MACD line rises above the signal line, this indicates a bullish signal, which suggests that the Nepse index is likely to experience upward momentum.

Fibonacci retracement:

A Fibonacci retracement refers to areas of support or resistance. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low, and then the indicator will create the levels between those two points.

The Fibonacci retracement levels are

50% - 1442

61.8% - 1475

78.6% - 1562

Turnover

Support and resistance level for next trading week according to Pivot Point.

Pivot Point- 1644 point

1^st Resistance- 1654 point 1^st Support- 1634 point

2^nd Resistance- 1664 point 2^nd Support- 1624point

3^rd Resistance- 1684 point 3^rd Support- 1604 point

Conclusion: All major indicators are supporting short term bearish trend. We can aspect market to have low volatility next week. NEPSE has Strong support at 1600.

Listing of the Week:

Weekly Market Summary of NEPSE:

More than 4 crore unit shares of worth Rs 12.22 arba has been traded through 1.61 lakh transactions this week. The current market capitalization of NEPSE stands at Rs. 2,192,345.62 Million.

Sector-wise breakdown of the turnover of this week:

The commercial bank's sector made 33.34% of the total turnover this week followed by the hydropower' sector with 21.39% of the total turnover.

NEPSE index and Sub-indices performance: (Increment here is based on the previous week closed value)

The NEPSE index decreased by 0.58% this week. The top looser sector of this week is the banking sector with a fall of 2.93% followed by the development Bank sector with a fall of 1.40%. The top gainer sector of this week is the trading sector with a rise of 10.95%.

Stock with the highest monthly Beta value from the Banking, Insurance & Finance Sector

Citizens Bank International Limited (CZBIL) has the highest monthly Beta value of 2.61 followed by Laxmi Bank Limited (LBL) and Prime Commercial Bank Limited (PCBL) with 2.49 and 2.39 beta value respectively.