As observed from the chart above, the NEPSE Index is currently trading in a sideways range, bounded by: 

• Resistance (R1): 2694.89 

• Support (S1): 2469.37 

According to the Dow Theory of Technical Analysis, reliable target projection and trend confirmation are only possible once the market decisively breaks above resistance or below support. Until such a breakout occurs, predicting directional targets remains speculative. 

There is an impressive improvement  in todays candle,with the support of turnover of 8.40 arba. To sustain a impressive gain of 31.12 points gain at a resistance level(T1) shows a strong momemtum in the NEPSE index. In order to last today’s momentum, we still need to confirm the breakout of Resistance(T1). Within this sideways structure, a short-term trendline (T1) is visible, which is currently acting as an immediate support for the index and is crucial to monitor in the near term.  

Conclusion: With a slight change in the momemtum, we can expect the  Resistance level to break within few trading sessions. It’s best to holdback on furthur analysis to predict the future move of the NEPSE index and watchout of Resistance(R1) 2694.89, Trendline support(T1) and support(S1) 2469.37. 

A decisive move beyond any of these levels may provide clearer insight into the next directional trend of the market.

Disclaimer: Analysis presented in this article is solely for educational purpose. Please make your decision based on your own final verdict.Thankyou.