NEPSE has reached strong resistance and will set a New record soon

Jan Wed 2023 05:39:08


NEPSE  has reached strong resistance and will set a New record soon

Kathmandu. There has been an increase in the stock market of Nepal recently. In a short period of time, the big number fell to around 1800 and for a few months the market kept hovering around 1900 with a small number of declines. With the formation of the new government, Bishnu Paudel, who has been well-known as the finance minister twice in the past, has taken over the responsibility of the finance ministry.

Bearish has become an engulfing pattern on Nepse's hourly chart. This means that a normal profit book can be generated in a short period of time.

Looking at the daily chart through MACD, the bullish crossover formed on December 27 is still valid. The histogram is becoming positive and long.

Looking through the Bollinger Bands, the candles have moved with the band. The RSI has reached the overbought zone at the 80 level. As the market is close to the previous strong resistance of 2222, there is a possibility of a correction of some points in the market which is now limited to intraday correction.

Sharp fluctuations in the stock market, turnover of more than seven billion

Kathmandu. The Nepal Stock Exchange (NEPSE) saw sharp fluctuations in the market on the third day of trading of the week. The market reached the upper point of 2277.42 points and the index fell to 2179.64 points and then 2190. It has closed at 42 points.

NEPSE decreased by 21.35 points and closed at 2190.42 points. Similarly, there was a transaction worth 7 billion 65 million 88 million rupees. Among the traded companies, the share price of 53 companies increased while the share price of 151 companies decreased. The share price of 5 companies has remained stable.

According to NEPSE, the share price of three companies has increased by 8 percent. The share price of Taragau Regency Hotel has fallen the most. Its share price has decreased by more than 8 percent. Similarly, Nyagdri Group has the highest turnover. It has a turnover of more than 22 million 21 million.