Weekly Summary: NEPSE Nearing All-Time High (A Look at Prominent Technical Indicators With In-depth Analysis and Major Highlights)

Fri, Apr 2, 2021 12:28 PM on Stock Market, Weekly Analysis, Featured,

-ShareSansar

107.67 points volatility was witnessed this week, with the market reaching the highest 2645.49 and the lowest 2537.82. NEPSE index gained 82.92 points (3.25%) in this trading week. Last Week market closed at 2548.97 points and this week closed at 2631.89 points on Thursday.

Candlestick pattern:

Two red candles and two green candles were formed this week.

Exponential Moving Average:

We have used EMA's of 5 days' time period (blue line), 20 days' time period (red line). At present, NEPSE Index is above both 5 days EMA and 20 days EMA. Values above moving average signals for bullishness. The golden cross signal was generated by moving average on 21th of March 2021.

Relative Strength Index:

Relative Strength Index is a momentum oscillator that measures between zero and 100. Currently, the Relative Strength Index is at 64.76 level. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. 2645

Moving Average Convergence and Divergence:

MACD line (blue) and the signal line (red line) are in the positive zone. The MACD line has crossed the Signal line above 0, this indicates a bullish signal. The histogram is also in the positive zone. Overall MACD is indicating upward momentum.

Fibonacci retracement:

A Fibonacci retracement refers to areas of support or resistance. The indicator is useful because it can be drawn between any two significant price points, such as a high and a low, and then the indicator will create the levels between those two points.

The Fibonacci retracement levels are

23.6% - 2486.55

38.2% - 2368.76

50% - 2273.56

61.8% -2178.36

Turnover

Support and resistance level for the next trading week according to Pivot Point.

Pivot Point- 2608

1^st Resistance- 2668 1^st Support- 2571

2^nd Resistance- 2705 2^nd Support- 2511

3^rd Resistance- 2753 3^rd Support- 2462

Conclusion: Major resistance is at 2673, a break out of resistance will give confirmation of the continuation of an upper trend.

Weekly Market Summary of NEPSE:

More than 4.70 crore unit shares worth Rs 24.01 Arba has been traded through 2.74 lakh transactions this week. The current market capitalization of NEPSE stands at Rs. 3,635,485.87 Million.

NEPSE index and Sub-indices performance: (Increment here is based on the previous week closed value)

The NEPSE index increased by 3.25% this week. The top gainer sector of this week is the Hydropower sector with a rise of 7.76%.

Stock with the highest monthly Beta value from the Microfinance and Non-life insurance

Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) has the highest monthly Beta value of 2.42 followed by Swabhimaan Laghubitta Bittya Sanstha Limited (SMFBS) and Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) with 2.06 and 1.81 beta value respectively.

Top Ten Gainers of the week:

Ajod Insurance Limited (AIL) is the top gainer of this week. AIL closed at Rs. 1031 with Rs. 325 (46.03%) increment.

All the analysis is done with the SS Pro Software. To know more about the software, click on the link below

SSpro

Top Ten Losers of the week:

Suryodaya Laghubitta Bittiya Sanstha Limited (SLBS) price has decreased by 9.03% and its LTP stands at Rs. 1965.

Top Stocks by Turnover, Volume, and Number of Transaction:

Upper Tamakoshi Hydropower Limited (UPPER) is the top traded company of the week. A total of Rs. 1.29 Arba worth of UPPER shares were traded this week.