$NEPSE closed at an important level yesterday which was also an area of resistance as shown by the middle Bollinger Band and trend line. We need to see if the market can break above 2510 and sustain above it. There is a possibility that we see some profit booking today as the maket has risen 149 points in the last two days and it is also the last trading day for the week. 2580 to 2620 could act as an area of resistance for $NEPSE.
One of the positives is that we saw a MACD bullish cross-over yesterday which suggests a possible uptrend. But as I have said many times in my previous posts, the market needs to cross 2670 and sustain above it for us to consider that maybe the bottom was placed on 13th Dec at a low of 2259.
Disclaimer - It's only for education purposes. Take your own decision before the trade.
One of the positives is that we saw a MACD bullish cross-over yesterday which suggests a possible uptrend. But as I have said many times in my previous posts, the market needs to cross 2670 and sustain above it for us to consider that maybe the bottom was placed on 13th Dec at a low of 2259.
Disclaimer - It's only for education purposes. Take your own decision before the trade.