The stock market raised by 137.18 points, What is the Next point to look for investors

Dec Tue 2021 12:26:19

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The stock market raised  by 137.18 points, What is the Next point to look for  investors

KAthmandu, Nepal Stock Exchange, the Nepse index, which measures share turnover, rose by 6.01 percent or 137.18 points to 2418.84 points on Tuesday. The Sensitive Index also rose by 22.72 points to 460.30.

A total of 4,085,956 shares of 220 companies were traded at a turnover of Rs 1,842,647,144, according to Nepse.Investors, who have been frustrated by the red market for the past few days, are excited to see green. The market has declined by about 30% since the previous all time high of 3227 to 2255. A 30% drop in the market over a period of about 4 months is a huge drop. Analysts say that the market has risen by more than 100 points as investors have increased their purchases after the market plummeted and the shares of almost all the companies became very cheap.

What is the Next point for investors : The market had been continuously declining for many days and reached the point of 2255. Looking at the Fibonacci retracement of 2825 and 2255 points where the market started declining earlier. The point of the level of 0.236 is 2390. If the market can stay above 2390 then the point of 2255 can be taken as the bottom of this down trend. Another important point to look at when the market is growing is 2472. If the market rises by crossing that point, it can be estimated that the journey of Nepse may be even higher.

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