NEPSE gain 73.88 Points This Week; Weekly Summary with Technical Analysis, Sector Comparison, Major Highlights, and More

Sat, Mar 27, 2021 9:50 PM on Stock Market, Weekly Analysis,

-ShareSansar

101.35 points volatility was witnessed this week, with the market reaching the highest 2594.25 and the lowest 2492.90. NEPSE index gained 73.88 points (2.98%) in this trading week. Last Week market closed at 2475.09 points and this week closed at 2548.97 points on Thursday.

Candlestick pattern:

Two red candles and three green 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). Recently, NEPSE Index is above both 5 days EMA and 20 days EMA. Values above shorter moving average signals for an earlier indication of possibilities of starting of bullishness.

Relative Strength Index:

Relative Strength Index is a momentum oscillator that measures between zero and 100. Currently, the Relative Strength Index is at 57.21 level. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. A bearish divergence is seen in RSI as the index is making higher highs but RSI is making lower highs.

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 above 0, this indicates a bullish signal. The histogram is also in the positive zone. Overall MACD is indicating 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

23.6% - 2486.55

38.2% - 2368.76

50% - 2273.56

61.8% -2178.36

Turnover

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

Pivot Point- 2544

1^st Resistance- 2597 1^st Support- 2495

2^nd Resistance- 2646 2^nd Support- 2442

3^rd Resistance- 2697 3^rd Support- 2391

Conclusion: Major resistance is at 2673, a break out of resistance will give confirmation of the continuation of the upper trend.

Weekly Market Summary of NEPSE:

More than 6.31 crore unit shares worth Rs 29.58 Arba has been traded through 3.51 lakh transactions this week. The current market capitalization of NEPSE stands at Rs. 3,520,227.54 Million.

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

The NEPSE index increased by 2.98% this week. The top gainer sector of this week is the Hotel and Tourism with a rise of 26.06%.

Stock with the highest monthly Beta value from the Microfinance

Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) has the highest monthly Beta value of 2.42 followed by Asha Laghubitta Bittiya Sanstha Limited (ALBSL) and Swabhimaan Laghubitta Bittya Sanstha Limited (SMFBS) with 1.74 and 1.74 beta value respectively.

Top Ten Gainers of the week:

Chandragiri Hills Limited (CGH) is the top gainer of this week. CGH closed at Rs. 2079 with Rs. 787 (60.91%) 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:

Arun Valley Hydropower Development Company Limited's (AHPC) price has decreased by 23.68% due to 50% right share adjustment and its LTP stands at Rs. 245.

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

Nepal Infrastructure Bank Limited (NIFRA) is the top traded company of the week. A total of Rs. 2.49 Arba worth of NIFRA shares were traded this week.