NEPSE Lost 15.29 Points (0.82%) This Week; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More
Fri, Dec 23, 2022 4:03 PM on Stock Market, Weekly Analysis, Latest,
Part 1: Rundown and Technical Analysis
The NEPSE index closed at 1,867.21 this week after a loss of 15.29 points (0.82%). The index closed at 1,882.60 last week with a loss of 1.81% from the week before that.
This week, the index went as high as 1,883.65 and as low as 1,849.44, hence witnessing volatility of 34.21 points. The index had seen volatility of 49.26 points in the previous week.
Analysis of Trend and Volume
Trend analysis is a technical analysis method that helps to predict future movement based on the current ongoing trend data. Looking at the daily charts, the short-term and mid-term trends of the NEPSE index are down.
The highest intraday loss was 27.54 points on Sunday with a turnover of Rs 1.15 Arba, however the total turnover stood Rs 4.95 Arba this week.
Momentum Indicators
The relative strength index (RSI) is a momentum indicator used in technical analysis that measures the magnitude of recent price changes to evaluate overbought or oversold conditions in the price of a stock or index. Traditional interpretation and usage of the RSI are that values of 70 or above indicate that a security is becoming overbought or overvalued and may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below indicates an oversold or undervalued condition.
The RSI reading on the daily timeframe is 39.58. Meanwhile, the RSI reading on the weekly chart is 38.20.
On the other side of things, the MACD line is in the Negative zone, i.e. below zero in the daily timeframe, moving downward to the negative zone with the MACD reading at -15.06. The MACD line is below the signal line. This indicates a bearish sentiment.
Moving Averages
NEPSE index is below both 5 days Exponential Moving Average (EMA) and 20 days EMA. The index below these moving averages signals bearishness. The 5 days EMA is below the 20 Days EMA with a dead crossover pattern forming. The dead cross is a technical pattern indicating the potential for a downtrend. The dead cross pattern formed on 11th December is still valid till now.
1,830 to 1,800 zone may act as the nearest support whereas, the 1980 zone will act as resistance.
Part 2: Insight into Important Data
The highest intraday loss was 27.54 points on Sunday with a turnover of Rs 1.15 Arba, whereas the total turnover of the week stood at Rs 4.957 Arba. More than 1.50 crore unit shares have been traded through 124,037 transactions this week. The current market capitalization of NEPSE stands at Rs. 2,700,026.06 million i.e. Rs 27 Kharba.
NEPSE index and Sub-indices performance: (Decline is based on the previous week's close)
The NEPSE index declined by 0.82% this week. Only "Others" closed green.
Stocks with the highest Monthly Beta
The top three companies with the highest beta are NADEP Laghubitta Bittiya Sanstha Limited (NADEP), Swet-Ganga Hydropower & Construction Limited (SGHC), and Karnali Development Bank Limited (KRBL) with 2.882, 2.510, and 2.360 respectively.
Top Ten Gainers of the week:
Dhaulagiri Laghubitta Bittiya Sanstha Limited (DLBS) is the top gainer. DLBS closed at Rs. 714.40 with Rs. 255.9 (55.81%) increment.
Top Ten Losers of the week:
Peoples Hydropower Company Limited's (PHCL) price has decreased by 18.11% and its LTP stands at Rs. 199.
All the analysis is done with the SS Pro Software. To know more about the software, click on the link below.
Top Stocks by Turnover, Volume, and Number of Transactions:
Nepal Doorsanchar Company Limited (NTC) is the top-traded company of the week. A total of Rs. 33.04 crores worth of NTC shares were traded this week.
Top Buyers Brokers of the Week:
Naasa Securities Co. Ltd (Broker No- 58) was the top buyer broker this week and it bought stocks worth Rs. 38.20 crores.
Top 10 Bought Companies:
Top Seller Brokers of the Week:
Naasa Securities Co. Ltd (Broker No- 58) was the top seller broker for this week. The brokerage firm has sold stocks worth Rs. 44.62 crores.
Top 10 Sold Companies:
All the analysis is done with the SS Pro Software. To know more about the software, click on the link below.
