The NEPSE market showed ups and downs throughout the day but closed 12 points higher. However, today’s trading volume was lower, limited to 5.1 billion NPR.
Looking at the candlestick patterns, a hammer candlestick has formed at the market’s support zone. This indicates that the falling trend may have paused. For confirmation of a bullish trend, a bullish candlestick needs to form in the coming days.
From a technical perspective, the market is near the lower Bollinger Band, and the distance between the upper and lower bands is narrowing. This suggests reduced volatility in the market. The MFI (Money Flow Index) has returned from the oversold zone to around 28. Although the MACD shows a bearish crossover, the histogram bars are shrinking, indicating the downtrend may be slowing.
Overall, different indicators suggest that the market’s fall is pausing. Today, the highest trading activity was seen in the hydropower and commercial banking sectors.
