CMP: 1139.57 as of 24th Magh.
The monthly pivot for month of Magh:
S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
1056.33 | 1102.56 | 1140.29 | 1186.52 | 1224.25 | 1270.48 | 1308.21 |
Projected Range for the month of Magh:
1136.05 to 1220.01
The weekly pivot for this week (20th Magh to 24thMagh):
S3 | S2 | S1 | Pivot | R1 | R2 | R3 |
1108.97 | 1124.27 | 1131.03 | 1146.33 | 1154.87 | 1170.18 | 1178.73 |
1127.65 to 1151.50
The pivot table for Sunday (27th Magh)
S3 | S2 | S1 | P | R1 | R2 | R3 |
1135.1 | 1136.49 | 1138 | 1139.34 | 1140.91 | 1142.24 | 1143.8 |
Thursday (24th Magh) volume : Rs 25.76 crores
Wednesday (23rd Magh) volume : Rs 23.56 crores
Since last week close was below the monthly pivot 1186.52 and weekly pivot 1146.33, the market outlook for this week had been bearish.
As this week market closed below both the weekly and monthly pivot, market is in search of support level. Until the market breaches the weekly pivot value of 1146.33, there is opportunity to buy at the dips. Recommendations for the hair cutting and portfolio basket managing below the pivot levels are suggested for the midterm market trend.
The Quarterly release of Companies is in verge of release and, the profit posted financial statements could have strong influence in coming days ahead. Interest rate issue remains intact as a presumed factor for the stock market growth.
Happy buying in the dips…..!
Pic showing Nepse Candle Chart
Pic showing Sensitive Index chart