$NEPSE closed at 2591 today due to a great rally driven by the insurance sector. If we are to believe the rumors, Insurance Board (IB) is set to increase the paid-up capital of insurance companies.
For now, the resistance of NEPSE seems to be around 2620 to 2670 area. If the market can break the upper channel, we could see a great rally in the coming days and it can target 1.618 fibo area which is at 2725. On the other hand, if the market takes resistance, we could see some profit booking. 2500 is an area that the market needs to protect for now.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.
For now, the resistance of NEPSE seems to be around 2620 to 2670 area. If the market can break the upper channel, we could see a great rally in the coming days and it can target 1.618 fibo area which is at 2725. On the other hand, if the market takes resistance, we could see some profit booking. 2500 is an area that the market needs to protect for now.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.