Technical Analysis of NEPSE's Movement This Week (With Sector Summary, Highlights, and Breakdown of Top Performers)

Fri, Apr 30, 2021 2:47 PM on Stock Market, Weekly Analysis, Featured,

-ShareSansar

163.32 points volatility was witnessed this week, with the market reaching the highest 2664.70 and the lowest 2501.38. NEPSE index decreased by 36.90 points (1.39%) in this trading week. Last Week market closed at 2648 points and this week closed at 2611.10 points on Thursday.

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 5 days EMA but below 20 days EMA. Values below shorter moving average signals for earlier indication of possibilities of starting of bullishness, but still need to wait till Nepse to close above 20 days EMA.

Relative Strength Index:

Relative Strength Index is a momentum oscillator that measures between zero and 100. Currently, the Relative Strength Index is at the 51.04 level. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

Moving Average Convergence and Divergence:

MACD line (blue) and the signal line (red line) are in the positive zone. The MACD line has crossed the signal line, this indicates a bearish signal. The histogram is also in the negative zone. Overall MACD is indicating downward 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

38.2% - 2612

50% - 2566

61.8% - 2520

100% - 2371

Turnover

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

Pivot Point- 2592

1^st Resistance- 2683 1^st Support- 2520

2^nd Resistance- 2755 2^nd Support- 2429

3^rd Resistance- 2836 3^rd Support- 2347

Conclusion: Some indicators are providing a signal of short-term bearish. This week market might test the 61.8% level of Fibonacci once again.

Listings of the week:

Weekly Market Summary of NEPSE:

More than 5.65 crore unit shares worth Rs 27.33 Arba has been traded through 3.51 lakh transactions this week. The current market capitalization of NEPSE stands at Rs. 3,620,827.92 Million.

Sector-wise breakdown of the turnover of this week:

The Commercial Bank sector made 26.06% of the total turnover this week followed by the Hydropower sector with 16.64% of the total turnover.

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

The NEPSE index decreased by 1.39% this week. The highest gaining sector of this week is Manufacturing and processing sector with a rise of 3.36%.

Stock with the highest monthly Beta value from the Microfinance, Hydropower, Development Bank and Non-Life Insurance

Sanjen Jalavidhyut Company Limited (SJCL) has the highest monthly Beta value of 2.40 followed by WOMI Laghubitta Bittiya Sanstha Limited (WOMI) and Chhyangdi Hydropower Company Limited (CHL) with 2.09 and 2.03 beta value respectively.

Top Ten Gainers of the week:

Bishal Bazar Company Limited (BBC) is the top gainer of this week. BBC closed at Rs. 5099 with Rs. 1931 (60.95%) increment.

All the analysis is done with the SS Pro Software. To know more about the software, click on the link below

SSpro

Top Ten Losers of the week:

Chandragiri Hills Limited's (CGH) price has decreased by 10.91% and its LTP stands at Rs. 1902.

Top Stocks by Turnover, Volume, and Number of Transaction:

Upper Tamakoshi Hydropower Limited (UPPER) is the top traded company of the week. A total of Rs. 1.15 Arba worth of UPPER shares were traded this week.