Market Watch of March 7

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Market Watch of March 7

Current market price (CMP): 1,127.77

 

OHLC update of this week:

O: 1105.53

H: 1127.77

L: 1098.95

C: 1127.77

 

Pivot table for next week (26th to 30th falgun):

S3

S2

S1

Pivot

R1

R2

R3

1,079.74

1,089.34

1,108.56

1,118.16

1,137.38

1,146.98

1,166.2

 

Pivot for this month:

S3

S2

S1

Pivot

R1

R2

R3

1025.74      

1075.08         

1101.64            

1150.98               

1177.54              

1226.88           

1253.44                          

 

 

 

Volume:

This week: 96.37 crores

Last week: 79.75 crores

 

Projected range for next week: 1,113.36 to 1,142.18

OHLC update of 23rd Falgun:

O: 1111.76

H: 1127.77

L: 1111.70

C: 1127.77

Pivot table for 26th Falgun:

S3

S2

S1

Pivot

R1

R2

R3

1,100.99

1,106.34

1,117.06

1,122.41

1,133.13

1,138.48

1,149.2

 

Turnover:

This week (19th to 23rd Falgun): 96.37 crores

Last week (12th to 16th Falgun): 79.75 crores

23rd Falgun: 29.39 crores

 

Outlook:

The CMP of 23rd Falgun is 1,127.77 which are above the daily pivot of 1,122.41 as well as above the weekly pivot 1,118.16.

 

Sub indices market information:

  • - Life insurance has increased by 159.32 points in index value.
  • - Non life insurance has increased by 105.24 points in index value.
  • - Banking has increased by 13.92 points in index value.

 

                                                      Banking candle stick chart

 

The top 5 scrips of banking in turnover are:

Scrips

Turnover

LTP

NCCB

NRS. 1.282 crores

210

PRVU

NRS. 1.046 crores

224

NICA

NRs. 1.035 crores

391

CBBL

NRs. 0.772 crores

886

CIT

NRs. 0754 crores

2,563

Conclusion

It is said that the stock market progressions are always process of anomalous and adventure.

Sometimes lousy movements, sometimes very disciplined and calculative and sometimes very wild with high motility behaviors.

For past few weeks markets have shown choppy to down trend Trading courses.

But this few weeks market has shown a recovery sign both in Index value and volume.

If we look at past years same months (magh, falgun and chaitra). The market had shown a recovery but only for short time. The market has shown a recovery but only for short time. The difference is the market turnover used to be more than Rs. 100 crores per day during last couple of years, but this time market turnover has been as meager Rs. 20 crores per day in average for long periods. Still, If analysis is to be made on volume side, though with meager, rise market show a sign of recovery with mild reliability.

 

The support and resistant's on the charts have been distinguished on the charts below.

 

                                                    NEPSE monthly chart with multiple support and resistant

 

a) Bearish channel, Strong support at 1064- 1040.

b) Bullish channel, Strong Resistant at 1183- 1204.

 

 

                                                      NEPSE weekly candle stick

    a) Inside the bearish channel markets range for next few weeks are as:

      i) Current Market Price (CMP) = 1127.77

      ii) Support: Initial support = 1121.23

                         Intermediary support =1098/1096

                         Final support = 1065.11

       iii) Resistant: Initial resistant = 1148.81

                           Final resistant = 1183.06

    b) Bullish engulfing candle stock pattern with mild reliability.

 

                                                        Nepse daily candle stick

 

    a) The market has been seemed to increase in its volume and index too.

    b) Some may want to sell and some may want to buy the share.

    c) The most increased points among all was of life insurance.

 

      Fundamentals:

    1) Next week falgun closing is ahead.

    2) Next month 3rd fiscal quarterly closing starts.

       a) If banks are provided with enough liquidity, the current bullish market would be approved for        

           further price gain.

       b) In case the banks are not comfortable with enough liquidity, chaitra 2nd/ 3rd week may face a          

          panic sell in market.

         c) Since third quarter is in verge to close, government and its agency seems claiming a robust fiscal

             growth amid various challenges.

          d) The most important factor is, if government is ready to spend the allocated budget in chaitra? or

               will it wait for next month.

 

 

 

        Happy trading……..!!!!!!!

 

 

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