The Nepse index has risen about 9 percent last week. Nepse, which had closed at 2556.95 points last week, has increased by 8.81 percent or 225.16 points last week and closed at 2782.11 points.
Nepse, which was in short term bearish till some time ago, looked bullish last year. Nepse had risen on all the five trading days when the market opened last week. On the second trading day of last week, after both Nepse and Volume broke the trend, there was enthusiasm in Nepse. In the days that followed, as investors entered the market, the trading volume with Nepse also improved.
If the Nepse index rises this yar last week, it is likely to face resistance at 3,000 points. Similarly, if it goes down, it will get support at 2600 points. The 5-day EMA of Nepse has cut the 20-day EMA from the bottom to the top last week. This is called a bullish crossover. This indicates that the market will grow in the coming days. A five-day EMA above the 20-day EMA indicates a strong buying momentum in the market.Last week, Nepse has made a bullish maruboju. This indicates that the buyer is dominant over the seller in the market.
The increase in Nepse last week has also been supported by the volume. Last week, a daily average of more than 5.8 billion shares were bought and sold in Nepse. The 20-day average volume of Nepse is Rs 4.9 billion. The daily average volume is 24.03 percent higher than the 20-day average volume.
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