All Major TA Indicators Signal Uptrend: Analysis of Sector, Market Movers, and Major Highlights of the Week

Fri, Nov 19, 2021 2:46 PM on Weekly Analysis, Stock Market,

-ShareSansar

NEPSE index made 157.07 points volatility with the market reaching the highest 2825.89 and the lowest 2668.82. The index surged 78.84 points (2.93%) in this trading week. Last week the market closed at 2690.29 points and this week closed at 2769.13 points on Thursday.

Exponential Moving Average:

NEPSE index is above both 5 days EMA and 20 days EMA. NEPSE index above moving average signals for bullishness. Overlapping pattern formation in 5 days EMA and 20 days EMA is suggesting to wait and watch until we get further confirmation of the trend.

Relative Strength Index:

Relative Strength Index is a momentum oscillator that measures between zero and 100. Currently, the Relative Strength Index is at 52 levels. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

Moving Average Convergence and Divergence:

MACD line (blue) and the signal line (red line) have reached the positive zone from the negative zone. This indicates the possibility of upward momentum

Turnover

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

38.2% - 2721

50% - 2671

61.8% - 2621

78.6% - 2552

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

Pivot Point- 2754

1^st Resistance- 2840 1^st Support- 2683

2^nd Resistance- 2911 2^nd Support- 2597

3^rd Resistance- 3068 3^rd Support- 22519

Conclusion: All major technical indicators are supporting an uptrend. Major support is at the 2682 and resistance is at the 2865 level. Index breakout from either side will make a confirmation of the trend.

Weekly Market Summary of NEPSE:

More than 4.79 crore unit shares worth Rs 28.00 Arba have been traded through 3.37 lakh transactions this week. The current market capitalization of NEPSE stands at Rs. 3,894,727.85 million.

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

The NEPSE index increased by 2.93% this week. The Others sector gained 16.28% this week while the Investment sector lost 2.65% in value.

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

ICFC Finance Limited (ICFC) has the highest monthly Beta value of 1.04 followed by Radhi Hydropower Company Limited (RADHI) and Panchakanya Mai Hydropower Limited (PMHPL) with 1.03 and 0.99 beta values respectively.

Top Ten Gainers of the week:

Manushi Laghubitta Bittiya Sanstha Limited (MLBS) is the top gainer of this week. MLBS closed at Rs. 1495.3 with Rs. 566 (61.01%) 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:
Laxmi Laghubitta Bittiya Sanstha Limited's (LLBS) price has decreased by 15.60% and its LTP stands at Rs. 1591. And this is because of 20% bonus price adjustment of this company due to book closure.