The Nepse index gained 17.87 points last week to close at 1823.05, supported by dividend announcements from listed companies. Technical indicators like MACD and RSI show the market has bullish momentum. The index is trading above its 50-day and 200-day moving averages, suggesting an optimistic outlook. Support remains at 1680 with resistance at 1880, above which the index is expected to move in the coming days given ongoing positive sentiment.

1. TECHNICALANALYSIS
1. Market Summary (as of September 8, 2016)
NEPSE at close last week (September 8, 2016) 1823.05
NEPSE high last week (September 5, 2016) 1838.9
Weekly Change 17.87 points (or 1.00%)
Daily Volume (Avg.) NPR 170.75 crores
Total Traded Amount (weekly) NPR 853.76 crores
RSI 59.82
MACD Line 21.35
Signal Line 12.80
2. Nepse Figure
Nepse (May1, 2015 – September 8, 2016)

2. 3. Trend Analysis
The Nepse index gained a modest 17.87 points (or up 1.00%) to close at 1823.05 last week. The index was in
the green territory at the beginning of the week. However, it corrected itself for the rest of the week, falling by
15.85 points. Nepse is moving well above the 50-day and 200-day moving average, indicating that the market
outlook looks good. Furthermore, dividend announcements by the BFIs have created bullish momentum in the
market. The average volume has also increased significantly to 170.75 crores from 138.52 crores the week
prior.
4. Resistance and Support
Immediate Support 1680
Support 2 1600
Immediate Resistance 1880
Resistance 2
The Nepse index hovered around the early 1800’s level throughout last week. Currently, the support and
resistance level stands the same at 1680 and 1880 respectively. Given the current bullish sentiment in the
market, the index is likely to reach close towards the resistance level of 1880 in days to come.
5. Trend Indicator
a.) MACD
The MACD is a momentum oscillator formed by using two different types of moving averages, which
provides specific buying or selling signals. When a MACD line crosses above the signal line, it is
considered to be a positive sign and indicates a time to buy, and vice-versa.
The Macd and the signal line, at the beginning of last week, stood at 11.40 and 2.77 respectively. Both the
lines have entered the positive territory, signifying a bullish trigger. Furthermore, the macd line is moving
well above the signal line, which supports the optimistic sentiment present in the market. Towards the end
of the week, the macd and the signal line closed at 21.35 and 12.80 respectively.
b.) RSI
RSI is a form of leading indicator that is believed to be most effective during periods of sideways
movement. Such indicators may create numerous buy and sell signals that are useful when the market is
not clearly trending upwards or downwards.

3. The RSI, at the beginning of last week, stood at 60.96 points. In the course of the week, it lost a minute
1.14 points to close at 59.82 level. The RSI could gradually move up towards the over-bought territory as
bullish sentiment is present in the market.
c.) Bollinger Bands
The Bollinger Band is a technical indicator that consists of a moving average (21-day) along with two
trading bands above (upper band) and below it (lower band). The bands are an indication of volatility,
which are represented by calculating standard deviation.
The benchmark index touched the upper bollinger band at the beginning of last week, indicating presence
of buying pressure in the market. Currently, the index is hovering between the upper and middle bands.
The distance between the lower and upper bands has not changed much, signifying moderate market
volatility.

4. 6. Overview
The Nepse index climbed up 17.87 points (or up 1.00%) to close at 1823.05 last week. Nepse is moving
above the 200-day, as well as 50-day moving average, signifying positive outlook of the market. The
technical indicators also show positive signals as well. The macd indicator show bullish presence in the
market as the macd line is moving up and above the signal line. The RSI is gradually climbing up and ended
at 59.82 level. The bollinger bands show an increase in the buying pressure in the market. The support and
resistance level stands the same at 1680 and 1880 respectively.

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