NEPSE Gains 104.88 Points and Closes at 2,816.95; Has Morning Star Pattern Really Formed in NEPSE's Chart? What Does It Tell Us About the Upcoming Trend?

The NEPSE index closed at 2,816.95 today after gaining 104.88 points from yesterday's closing. The index had gained 13.83 points in a fierce intraday swing yesterday.

The index opened at 2,719.91 and did not trade at anywhere lower than that. The index then closed at 2,816.95, very near the intraday high of 2,818.86.

At a quick look, the last three days' candlestick movement appears to have formed a Morning Star candlestick pattern. A long, red candle is followed by an indecisive Doji, which is followed by today's long green candle that roughly meets the first red candle's high. The Morning Star candlestick pattern has a 78% statistical chance of being followed by a bullish reversal.

However, on second look, it is seen that the second candle (Doji) fails to meet a requirement of the Morning Star pattern, i.e. the second candle's small real body should be beneath the first candle's body.

Nonetheless, the candlestick movement of the last few trading sessions still holds similar sentiment as the Morning Star reversal pattern even if the specifics are not ideal.

A total of 12,122,298 shares exchanged hands amounting to Rs. 6.179 Arba in the turnover amount. This is lower than yesterday's turnover of Rs. 7.364 Arba. 217 scrips traded hands via 72,714 transactions.

Arun Valley Hydropower Development Company Limited (AHPC) had the highest turnover of Rs. 23.34 crores closing at a market price of Rs. 642 per share. The shares of National Hydro Power Company Limited (NHPC) traded the most.

At least 18 scrips have gained the most 10% while 9.5% Manjushree Finance Ltd. Debenture 2085 (MFLD85) lost the highest, and that too, a minimal 1.49%.

All sectors closed green today. Finance gained the most 8.54%.