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Nepse in a bearish mood

- ShareSansar, November 13, 2016  on Featured , Technical Analysis , Technical Call
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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-
Disclamer:
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.

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