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

all-major-ta-indicators-signal-uptrend:-analysis-of-sector,-market-movers,-and-major-highlights-of-the-week

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

1st Resistance– 2840                    1st Support– 2683

2nd Resistance– 2911                   2nd Support– 2597

3rd Resistance– 3068                   3rd 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. 

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

Mahalaxmi Bikas Bank Limited (MLBL) is the top traded company of the week. A total of Rs. 1.95 Arba worth of MLBL shares were traded this week.

Top Buyers Brokers of the Week:

Naasa Securities Co.Ltd (Broker No- 58) was the top buyer broker of this week and it has bought stocks worth Rs 2.50 Arba.

Top Buyer Brokers Top 10 Bought Companies:

Top Seller Broker of the Week:

Naasa Securities Co.Ltd (Broker No- 58) was the top seller broker for this week. The brokerage firm has sold stocks worth Rs 2.15 Arba.

Top Seller Brokers Top 10 Sold Companies:

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

SSpro

Major Highlights of the week:

To Be a Successful Trader, Trade Without Fear: Prakash Joshi

Kamana Sewa Bikas Bank signs Agreement with Nepal Clearing House for NPS Phase 1 Rollout; non-card transactions to be routed via national switch

PAYTM, India’s Biggest IPO Crashes 25% on First Trading Day, ₹30,000 Crores Wiped Out in 45 Minutes

Mero Microfinance Laghubitta (MERO)’s AGM to Endorse 21.0526% Dividend and Elect Board Members

National Microfinance Laghubitta (NMFBS) and Chhimek Laghubitta (CBBL) Propose Dividend for FY 2077/78

CEO of Mahalaxmi Life Insurance partnered with NAFIJ to declare Rs 1 lakh worth of annual prize for financial journalists

Khalti welcomes the youngest CEO in Fintech Industry of Nepal; Mr. Binay Khadka to join the young and energetic Khalti team

Upper Syange Hydropower to float 8.70 lakh unit shares in IPO; appoints Prabhu Capital as share underwriter

Nabil Bank stands as the Largest Tax Payer Bank in FY 2076-77; makes tax payment of Rs 1.66 arba

Civil Bank welcomes Mr. Pratap Jung Pandey as new chairman; to lead the bank for new tenure

New Working Committee of Nepal Bankers’ Association Hold Meeting With Governor, Give Suggestions on Monetary Policy Review

17% Bonus Shares of Arun Kabeli Power Limited (AKPL) Listed in NEPSE

Nepal Infrastructure Bank (NIFRA) Calls AGM to Endorse Dividend and Elect Board Members

Asian Life Insurance (ALICL) Proposes 27% Dividend for FY 2076/77

Prime Life Insurance Reports Stagnant Profitability In First Quarter; Look At The Major Financial Highlights

Blending noughties nostalgia with modern-day essentials; say hello to Nokia 6310 the 90s classic

Remittance Inflows Down 7.6%, Inflation at 4.24% in First Three Months of FY 2021/22

“Mega Mutual Fund 1” Now Listed in NEPSE

Gold Gains Rs. 500 Per Tola, Silver Trading at Rs. 1,290

Commercial Banks Can Only Provide Upto 10.05% on Fixed Deposits, Rates of Finance Companies and Development Banks Also Capped Slightly Higher

Jeevan Laghubitta Reports Impressive Growth In Overall Profitability In First Quarter

Despite Growth In Revenue Net Profit Took A Hit With Increased Expenses For Shivam Cements In First Quarter

Upper Tamakoshi Hydropower Limited Reports Net Profit For The First Time After Full Operation of Project

The Issues I Have With NRs. 19 Crores Worth of Banking Credit Fraud

Chilime Hydropower Company LImited Reports Slight Decline In Overall Profitability In First Quarter

Newly elected chairman of Kamana Sewa Bikas Bank Mr. Sudeep Acharya receives his oath from NRB official; chairman formally begins his tenure of 4 years

While the Nation is Facing a Liquidity Crisis, Central Bank Wants to Keep Interest Rate Hike in Check With Additional Restrictions

Banks See Even Fewer Deposits in Fourth Week of Kartik; Lending Figure Sees Uptick

How Can We Solve the Current Liquidity Crisis? This is What High-Level Meeting Suggests

https://www.sharesansar.com/newsdetail/fncci-senior-vice-president-dhakal-urges-to-take-initiative-for-immediate-solution-of-liquidity-problem-2021-11-14

Butwal Power Company Publishes Its First Quarter Report; Has It Performed As Per Investors Expectations?

Daraz scores big during this year’s 11.11 campaign; Sets a New Sales Record Serving 7 Lakh Nepalese in 24 hours

Leave a comment

Your email address will not be published. Required fields are marked *