NIB moving towards 1,450

52 Weeks High :                    Rs. 1,085

52 Weeks Low :                     Rs. 450

180 Days Average Price:       Rs. 731

Last Week

Open:                                      Rs. 1,036

High:                                       Rs.  1,085

Low:                                        Rs.  965

Close :                                     Rs.  1,033

Volume:                                  21,735

Support (Rs.):  970, 907,  847, 787

Resistance(Rs.):  1,090, 1147, 1,267, 1,387

Recommendation

Nepal Investment Bank price have breach its old high price of 953 (18 December 2012) on 16 December 2013. It took almost 1 year to cross its  old high and close at 971. During the year it went down  up to 660 and  trend got reversed.   Price close above 180 days Moving  average   and strong support  of 950 level  clearly indicates bullish. The price found Support at that level as the move seems also overextended, however the bullish bias remains favored, targeting 1,147, 1,387 and 1,450.

Sagun Shakya

Technical Analyst

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