Nepse in a bearish mood

Sun, Nov 13, 2016 12:00 PM on Featured, Technical Analysis,
nepse_bearsh_a 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 Trend (Up/Down) Long Term: UP Mid Term: Down Short Term: Down Pattern Analysis Chart Patterns- Break Out of Symetrical Triangle Candlestick Pattern - Bearish Candles are forming Oscillator (OB/OS) 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. Overview: 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. Sagun Shakya -Technical Analyst- Disclaimer: Opinions expressed are those of the individual authors and do not necessarily represent the opinion of sharesansar.com This commentary is a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. IMS Investment Management Services Pvt. Ltd accepts no liability whatsoever for any loss arising from any use of this contents.