Market Watch 11th Feb(Monday)

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Market Watch 11th Feb(Monday)

CMP: -1128.86

The weekly pivot for this week :

S3     S2    S1        Pivot   R1   R2    R3
1088.21  110707 1117.26 1136.07     1146.33  1165.12 1175.38

The pivot table for tomorrow (29th  Magh)

S3

S2

S1

P

R1

R2

R3

1118.71

1121.97

1125.25

1128.68

1132.13

1135.39

1138.84

 

 

 

 

Today’s (28th  Magh) volume: Rs 20.27 crores  

Yesterdays (27th  Magh) volume   : Rs 23.52  crores

The Trading volume:

Today’s trading volume Rs  20.27 crores which has been  decreased by 3.25crores  as compared to yesterday’s trading volume of Rs 23.52  crores. market has increased in index but the turnover has decreased.

Commentary:

  • Market has increased a bit but the volume has dropped by 3.25 corers this shows that the market is looking for a saturation point.
  • Current market price 1128.86 is slightly higher than tomorrows pivot 1128.68

Conclusion:

Market has become small green but volume still is not positive.so, if tomorrow market sustains over 1124 value then market may target weekly pivot of 1144.33 and in case market breaks weekly pivot then market may change direction for short term.

Recommendations:

  • Aggressive buyers may take positions as market has been in oversold position and prices of the scraps are in very low condition.

.Happy Trading……..!!!!!

Nepse Daily Candle Chart Illustrates:

  1. Today market has remained positive
  2. Support for tomorrow at 1125.48 level.
  3. If market rises the resistant for tomorrow as 1133.16 level

Sensitive index daily candle chart illustrates:

  1. Tomorrows support 238.94 to 242.78
  2. Market may trade around support as mentioned in point 1.

 

 

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