Nepse Index : 1,644.26
Turnover : Rs 61,98,02,513
| Support and Resistance |
| Resistance 2 |
1,750 |
| Resistance 1 |
1,680 |
| Support 1 |
1,630 |
| Support 2 |
1,480 |
| Trend (Up/Down) |
| Long Term |
Up |
| Mid Term |
Up |
| Short Term |
Down |
Pattern Analysis
Chart Patterns- Nepse is trading inside the Symmetrical Triangle
Candlestick Pattern – Long headed candle are forming in above line on Symmetrical Triangle.
Oscillator (OB/OS)
RSI - RSI is falling from Over Bought Zone, and is at 53.64 level. No Negative Divergence is observed.
Bollinger Bands – Upper Band and Lower Band are narrowing to each other. Tightening of bands indicates price volatility in near future.
MACD- It is in Bullish Zone moving towards Bearish Zone.
Moving Average - Nepse Index is above the 180 EMA but below 20 EMA and 5 EMA.
Remarks:
Nepse is trading in the Symmetric Triangle, break out from upper line or lower line will indicate the over all direction of market. Formation of shooting star on 3
rd April had already shown the bearish nature. Candlesticks of NEPSE are forming heads over the line of symmetrical triangle. Relative Strength Index and Moving Average Convergence and Divergence both are also indicating short term bearish. So,we can expect market to fall around 1,480 in the upcoming days.
- 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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