$NEPSE closed at 2527 yesterday. It has been 5 consecutive days of red candles which represents constant selling pressure.
I'm expecting the market to go lower to somewhere between 2480 to 2500 area before giving us a bounce back. It has acted as strong support for the market multiple times. Therefore, there's a good possibility that we might see an upward rally from this area. If the market fails to bounce from this area, we could even go lower to 2440.
As for now, 2600 is an area that we need to close above in the coming days. My target then after will be 2700 to 2760.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.
I'm expecting the market to go lower to somewhere between 2480 to 2500 area before giving us a bounce back. It has acted as strong support for the market multiple times. Therefore, there's a good possibility that we might see an upward rally from this area. If the market fails to bounce from this area, we could even go lower to 2440.
As for now, 2600 is an area that we need to close above in the coming days. My target then after will be 2700 to 2760.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.