Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 115]
Notice (8): Trying to access array offset on value of type null [APP/View/Articles/view.ctp, line 116]

Nepse Analysis for 6 Feb.

  5 min 16 sec to read
Nepse Analysis for 6 Feb.
Notice (8): Undefined index: caption [APP/View/Articles/view.ctp, line 241]

CMP: 1147.10 NEPSE

The pivot table for tomorrow (23rd Magh)

S3

S2

S1

P

R1

R2

R3

1139.77

1142.02

1144.56

1146.81

1149.35

1151.60

1154.14

 

 

 

 

Today’s (22nd Magh) volume        : Rs 23.100 crores

Yesterdays (21st Magh) volume   : Rs 36.436 crores

The Trading volume:

Today’s trading volume Rs 23.100 crores has been lower as compared to yesterday’s trading volume of Rs 36.436 Crores. The trading volume does not show a promising bullish outlook when market has closed green and above the daily pivot.

Commentary:

  • - Market seems finding support and has grown higher than yesterdays close.
  • - Current market price 1147.10 is higher than tomorrows pivot 1146.81; that indicates market with further growth.
  • - Today market traded in lower volume than the yesterdays.

Recommendations:

  • - Market may move up if sustained over the pivot 1146.81 but the lower trading volume today keeps all the analysts and traders in the chaos.
  • - If trading volume increases with rise in Nepse value tomorrow, the market may target to the weekly pivot 1164.683 which seems virtual at this time.
  • - Still the aggressive traders may sell some of their portfolios if they get an exit point to find another support level as an entry point in near future.

Fundamental Outlook:

  • - The liquidity crisis in Banks seems still persisting and this has been major factor to affect the stock market in negative prices.
  • - Government is in verge to review the half annually performances of the current fiscal year. If government shows a probability to spend on the expenditures, the liquidity problem for the short period would be eased to relax the stock market for a price growth.
  • - The brokers’ branches out of Kathmandu may not only add the number of traders but may add the value too as a positive effect on market for the price elevation.

Happy Trading……..!!!!!

Nepse Daily Candle Chart Illustrates:

  1. - A small green after two consecutive red. Is it harami candle stick pattern?
  2. - Market inside a triangle where support lies at 1143.9 and resistant at level 1163.02
  3. - If the trading volume rises with bullish mindset of investors market may target the weekly pivot value 1162 level.
  4. - If market does not show  a sign of recovery then market shall break the current support level to find a new low.

Sensitive index daily candle chart illustrates:

  1. - Tomorrows supports are 243.01 and 241.24
  2. - The resistant value exists at 245.14

Disclaimer:

The information contained herein does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading/financial advice. All the information is believed to come from reliable sources.

 

 

Deprecated (16384): Using key `action` is deprecated, use `url` directly instead. [CORE/Cake/View/Helper/FormHelper.php, line 383]
No comments yet. Be the first one to comment.