Kathmandu, 2082 Vaisakh 21 – The Nepal Stock Exchange (NEPSE) index experienced a slight decline again on Sunday. The NEPSE index dropped by 3.44 points, closing at 2620.39 points, which is a 0.13% decrease.
According to technical analysis, the main indicators are:
🔹 Bollinger Bands:
The NEPSE index is currently below the middle line of the Bollinger Bands (2672) and has reached near the lower band (2617). This indicates pressure in the market and suggests that the index may see further decline.
🔹 MACD (Moving Average Convergence Divergence):
Both the MACD line (-5.77) and the signal line (-10.84) are in negative territory. This indicates that a bearish trend (downward pressure) is prevailing in the market.
🔹 RSI (Relative Strength Index):
The RSI currently stands at 37.22, pointing towards the oversold region. However, since it is still above 30, despite market weakness, there remains a possibility of a rebound.
🔹 Stochastic RSI:
Both lines of the Stochastic RSI are within the oversold region (0–20), specifically at very low levels (0.00 and 1.14). This suggests that a market reversal (an upward move) could occur in the near future.
Trading Volume:
Today’s total trading volume was NPR 924 crore, which appears stable. However, there is no notable buying pressure observed.
Conclusion:
Technically, the NEPSE index still appears weak. Since both RSI and Stochastic RSI are in oversold territory, there is a chance for a small pullback. However, if the index falls below 2615, further declines are possible. Investors are currently in a ‘wait and watch’ mode.
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