Today market decreased by 76.64 (-2.6%) with red candle and increased volume which indicates the bearish market. Day by Day NEPSE decreased , it can't breaks it's all time high 3200 and falling by making lower high, which is the trend of bearish market.
From technical analysis-
- Bollinger bands are wider and NEPSE falling by touching it's lower band,
- MACD are formed in negative histogram and sell singnal
- RSI below 30
- Stoch RSI sell signal
- ADX line below 30
- Crossing strong support of 2860 by making lower low
- Can't break resistance of 2960
- As many commercial bank and development bank increased the rate of fixed deposit nearly 10% , so this leads to market fall down
- All though many companies providing bonus dividend but investors are not interested to take bonus
So, this is the Very beginning of bearish market, so we should exit from the market and stop loss. Market will touch the previous starting of bullish market 1800 then this will be best time to re entry.
Note- this is just our just our analysis and investors are requested to take your own risk.