Sagun Shakya
Technical Analyst
NEPSE index crossed 1000 points on Sharwan 7 (Thursday) after a year. NEPSE index jumped to 1000 points with a support level of 840 points. Monetary Policy issued by NRB has played a role of catalyst to boom NEPSE index.
The similar pattern of growth in the market was last seen during the first CA polls held in 2008 when the market had jumped to all time high of 1,175 points.
Now, in this fiscal year NEPSE index is likely to cross 1,200 points and then start chasing a target of 1,700 points.
As per technical analysis, NEPSE is forming a cup and handle pattern which shows the market trend will be in bullish zone in a coming days.
