$NEPSE didn't manage to close above 2615 (wave A = wave C area) and closed below 2600. Wave C (the final fall) looks like an impulse and if wave 1 = wave 5, it's around 2570. If the market bounces from that area on Sunday onwards and manages to close above 2760 in the coming days, that would indicate that the market still has upward momentum. In such a scenario, we could see the market rally to around 3000 area. On the other hand, if the market closes below 2570, there is a possibility for a further fall and the market might come to test 2500. It will be interesting to see if the market respects the channel and gives us a bounce on Sunday.
