NEPSE Gains 63.88 Points Today with All Sectors Closing Green; What Does Technical Analysis Tell Us?

The NEPSE index gained an impressive 63.38 points today and closed at 2,538.46. The index opened at 2,494.48 and briefly made an intraday low at 2,492.90. The index gained in the overall market movement today and closed at the intraday high.

12,430,002 shares traded hands via 80,986 transactions. The trading of 206 scrips brought the total market turnover to a little over Rs. 5.91 Arba.

NEPSE's candlestick chart shows three bullish candlesticks in the last three trading sessions, each opening a gap up than the last and closing higher. The intraday volume is also in the ascending trend. Given that this was preceded by a month-long correction, technical analysts may consider this a bullish reversal signal and a probable ending of the correction.

Disclaimer: Like any other strategy, technical analysis does not work 100% of the time. Reader discretion advised. 

While the float index gained 4.26 points and closed at 174.34, the Sensitive index is at 453.59 after gaining 9.44 points.

Nepal Bangladesh Bank Limited (NBB) has the highest individual scrip turnover of a little over Rs. 39.9 crores. Its shares also traded the most.

The nine highest gainers have technically hit the 10% positive circuit today.

Meanwhile, Greenlife Hydropower Limited (GLH) lost the most 6.06%. This is GLH's first loss after four days of trading in NEPSE.

All sectors closed green today, with the microfinance sector gaining a massive 5.7%.