Comprehensive Analysis Of NEPSE Indicators Of Today Shrawan 30

Market Overview

The NEPSE index has shown a notable increase today, closing at 2957.75, which is an increase of 34.29 points. The market turnover for the day stands at 23.43 Arba. This sustained growth reflects the market’s resilience and bullish sentiment.

Market ले २०० दिन Moving average तल closing गरेको छ 5

Moving Averages

50-Day Moving Average: The market continues to close above the 50-day moving average, indicating a strong and sustained bullish momentum. This suggests that recent prices remain higher than the average price over the past 50 days, reinforcing the overall positive market sentiment.

Pivot Points

Pivot Point (P): 2527
Resistance (R1): 3024
Support (S1): 2263

Today’s pivot point is at 2527, with the first level of resistance at 3024 and the first level of support at 2263. The market’s position above these levels continues to indicate an upward trend, reflecting investor confidence and market strength.

MACD (Moving Average Convergence Divergence)

The MACD indicator forms a light green histogram with decreasing height, indicating a potential trend reversal or correction. Today’s candle rejects the lower end of the range, creating a green hammer candle, which is a bullish reversal signal. Investors should monitor this closely as it could signal the continuation of the bullish trend after a brief correction.

Bollinger Bands

The candlestick is positioned above the mid-band of the Bollinger Bands, which generally indicates a bullish market. This positioning suggests that the market is experiencing upward momentum, and the Bollinger Bands’ configuration supports this bullish outlook.

Relative Strength Index (RSI)

The RSI value is at 79.08, placing it in the uptrend zone. An RSI above 70 generally indicates that the market is overbought, but it also confirms the ongoing bullish momentum. This suggests that the market could continue to perform well in the near term, with strong buying interest driving the index higher.

Fibonacci Retracement

According to Fibonacci retracement levels:

The current candle is above the 0.786 level (2924).
The next resistance level is at the 1 level (3228).
The lower support is at the 0.618 level (2686).

These levels are calculated based on the Fibonacci sequence, taken between the points 1811 and 3228. The market’s position above the 0.786 level suggests a potential continuation of the upward trend, with resistance at 3228 being the next key level to watch.

Conclusion

Today’s NEPSE indicator analysis by Green NEPSE reflects a market that is experiencing sustained growth and bullish momentum. The market remains in a strong position, supported by various technical indicators such as moving averages, MACD, Bollinger Bands, RSI, and Fibonacci retracement levels. Investors are advised to stay vigilant and monitor market movements closely, especially considering the recent fluctuations and the signals of a potential continuation of the bullish trend.

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