Weekly Analysis

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Weekly Analysis

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

 

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