NEPSE: 1,218 index seems to be the end point of correction

NEPSE: 1,218 index seems to be the end point of correction NEPSE Index : 1,486.04 Turnover :  1,001,685,417 Support And Resistance Resistance 2 - 1,620 Resistance 1 - 1,480 Support 1 – 1,400 Support 2 – 1,250 Trend (Up/Down) Long Term : UP Mid Term : Down Short Term : Up Pattern Analysis Chart Patterns-  Break Out of Channel, Inverted Head & Shoulder and Symmetrical Triangle Candlestick Pattern – Long headed candle had formed on 22^nd March making high of 1,513 and spinning top on 24^th March. Oscillator (OB/OS) RSI -  Over Bought Zone 72.89  and no Negative Divergence is observed. Bollinger Bands –  Upper Band and Lower Band are diverting from each other. MACD- Entered Bullish Zone. Moving Average - NEPSE Index is below the 180 EMA but above 20 EMA and 5 EMA. Remarks: Looking at above indicators of technical analysis, 1,218 index of NEPSE made on 13 February, 2017 seems to be the end point of correction from 1,888, but still need to make confirmations. NEPSE is making higher highs and higher lows from 1,218. There is break out of channel and formation of inverted head and shoulder. Target of 1,510 made by inverted head and shoulder has already been achieved. So,we can expect market to be trading around 1,400 in up coming days. The short term trend of NEPSE is up but its intermediate trend is still bearish. Index is trading below 180 days EMA. For NEPSE CandleStick Chart Sagun Shakya -Technical Analyst- Disclamer: Opinions expressed are those of the individual authors and do not necessarily represent the opinion of sharesansar.com This commentary is a guideline to interpreting the specified indicators. This information should only be used by investors who are aware of the risk inherent in securities trading. IMS Investment Management Services Pvt. Ltd accepts no liability whatsoever for any loss arising from any use of this contents.