Share Market has reached strong resistance and future NEPSE will set a new record soon

Jan Sun 2023 02:51:25

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Share Market has reached strong resistance and future NEPSE will set a new record soon

Kathmandu. There has been an increase in the stock market of Nepal recently. In a short period of time, the big number fell to around 1800 and for a few months the market kept hovering around 1900 with a small number of declines. With the formation of the new government, Bishnu Paudel, who has been well-known as the finance minister twice in the past, has taken over the responsibility of the finance ministry.

Bearish has become an engulfing pattern on Nepse's hourly chart. This means that a normal profit book can be generated in a short period of time.

On Sunday, the first day of the week, the market reached 2190 in intraday trading. However, in the last hour, the market has declined and closed at 2164. However, today the market is up by double digits.

The market has been steadily rising for some time, rising from the 1850 point. However, in the last hour of growth, there has been a correction in the market with volume. This can be considered as a sharp profit book in the market.

Looking at the daily chart through MACD, the bullish crossover formed on December 27 is still valid. The histogram is becoming positive and long.

Looking through the Bollinger Bands, the candles have moved with the band. The RSI has reached the overbought zone at the 80 level. As the market is close to the previous strong resistance of 2222, there is a possibility of a correction of some points in the market which is now limited to intraday correction.