$NEPSE closed at 2420 today. We saw 95 points (4%) increase today. It gave a bullish continuation candle to the reversal candle we saw on Thursday. We can also see that there is about to be MACD crossover in the daily timeframe.
I had mentioned two levels that we needed to close above i.e. 2360 and 2438. We have managed to close above 2360 and now we need the market to sustain above this in the coming days. As for now, I am looking at if NEPSE can close above 2438. Our next resistance is at around 2500.
I see two possibilities. Either the market retraces to 2360 and continues its journey upward or it directly goes towards the resistance of the 2500 area.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.
I had mentioned two levels that we needed to close above i.e. 2360 and 2438. We have managed to close above 2360 and now we need the market to sustain above this in the coming days. As for now, I am looking at if NEPSE can close above 2438. Our next resistance is at around 2500.
I see two possibilities. Either the market retraces to 2360 and continues its journey upward or it directly goes towards the resistance of the 2500 area.
Disclaimer - It's only for educational purposes. Take your own decision before the trade.