Nepse in a bearish mood
- ShareSansar, November 13, 2016 on Featured , Technical Analysis , Technical Call
Nepse Index : 1697.17
Turnover – 708,042,298
Support And Resistance
Resistance 3- 1880
Resistance 2- 1820
Resistance 1 – 1730
Support 1 – 1675
Support 2 – 1620
Support 3 – 1550
Long Term: UP
Mid Term: Down
Short Term: Down
Chart Patterns- Break Out of Symetrical Triangle
Candlestick Pattern – Bearish Candles are forming
RSI – Over Sold Zone 29.60. and no Negative Divergence is observed.
Bollinger Bands – No clear indication.
MACD- Bearish Zone.
Moving Average – Nepse Index is below the 5 EMA and 20 EMA but above 180EMA.
Looking at above indicators of technical analysis, Nepse is in a bearish mood . Nepse is trading at 1697.17 with turnover of 708,042,298 . On the downside, support comes in at the 1675 level where a break will turn attention to the 1620 level. Further down, a cut through here will open the door for a move lower towards the 1550 level. Below here if seen could trigger further downside pressure targeting the 1250 level.
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