$NEPSE closed at 2754 today. The market respected the falling channel and bounced back from the 2700 area. Now the level we need to watch out for is 2740 to 2780 which could act as resistance as mentioned in the previous post.
If the market takes resistance, I'm expecting the market to come back down to take support somewhere between 2670 to 2700 before gathering a strong momentum upside.
However, if the market doesn't resist and breaks above 2825, we might need to consider if the downward movement has ended and the movement will be upwards thereafter.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.
If the market takes resistance, I'm expecting the market to come back down to take support somewhere between 2670 to 2700 before gathering a strong momentum upside.
However, if the market doesn't resist and breaks above 2825, we might need to consider if the downward movement has ended and the movement will be upwards thereafter.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.