The NEPSE is testing a strong support zone, and the index has gained 32.22 points as a result of the increase in volume.
The NEPSE index closed at 2,546.08 points today, up 32.22 points from the previous day’s close. This is a 1.28 percent increase in the index. Yesterday, the index had dropped by 72.3 points.
69,888 transactions resulted in the exchange of 227 scrips.
The Float index is currently at 175.04 after gaining 1.34 percent, while the Sensitive index gained 1.61 percent and is presently at 480.97 after winning 1.61 percent.
Nabil Bank Limited (NABIL) had the most turnover with Rs. 17.15 crores, closing at a market price of Rs. 1,485 per share. It was the most profitable company with the biggest turnover. The most actively traded units were those of the Global IME Samunnat Scheme 1 (GIMES1).
The most successful company, Mero Microfinance Laghubitta Bittiya Sanstha Limited (MERO), gained 10 percent and broke the positive circuit breaker. At the same time, JSLBB, a company based in Janautthan, suffered the most loss, accounting for 6.88 percent of its value.
Today’s gains have been seen across all industries. 3.45 percent was acquired by Development Bank of America.
Highlights of the Technical Analysis
The index began the day at 2,508.96 and ended the day at 2,440.24, a new intraday low. Although it reached a high of 2,548.98, it ultimately closed at 2,546.08 per share. As a result, today’s index had intraday volatility of 108.74 points.
On the candlestick chart, this has resulted in the construction of the Hammer candlestick pattern as a result of this. As seen in candlestick charting, the hammer price pattern is formed if the price of a securities begins the period much lower than its opening price, but then rallies to close close to the opening price. This design results in a hammer-shaped candlestick, with the bottom shadow being at least twice the size of the actual body of the candlestick (see illustration). The difference between the open and closing prices is represented by the body of the candlestick, while the high and low prices for the period are represented by the shadow of the candlestick.
Additionally, chartists can extract another important information from the hammer candlestick: the support zone. According to standard trading theory, the lowest point of the lower wick indicates a strong support zone for the stock or index chart. This time the wick came in at the lowest point of 2,440.24 points.
A total of 9,471,311 shares were traded, resulting in a turnover of Rs. 4.542 Arba (Rs. 4.542 Arba per share). This represents an increase over the previous day’s turnover of Rs. 4.09 Arba. As a result of the index’s apparent test of the strong support zone near the 2,500 level, the increase in trading volume is a good development.
The Relative Strength Index (RSI) is currently at 33.89, which means it has crossed above the 30 level. The reading was 28.8 yesterday, according to the data. This suggests that the stock market as a whole may be on the verge of recovering from oversold circumstances. As a result of this, both the MACD and the signal lines are negative, meaning that they are both below zero, with the MACD reading at -46.64. This reading was -41.44 when it was taken yesterday. The MACD line is below the signal line, and both lines are negative, indicating that the market is in general a bearish environment.