Market view after closing 16 Sept

NEPSE : Closed higher today from opening at 1537 at 1541. Trading above 9 EMA at 1520 but closed below two days past high at 1553. This level as well is close to 78.6% Fib Retracement. If this resistance holds and falls further below, support should be at 1480. Bit Up

Banking : Closed higher than the open at 1221. Trading above 20 EMA, but still below the previous day high at 1240. Something is keeping it from moving further ahead. But the momentum so far seems further advance. Up

Finance : Closed higher at 684 than the open 682. 680 level seems to be a tested support for a couple of days. Trading above 20 EMA. But still below the previous day high at 690. 700 seems to be the nearest possible resistance to look for. Up

MicroFinance : Ended up in doji. Trading above 20 EMA but a tested resistance of 2640 seems to be valid as till now. Break of the mentioned resistance should get the index to test another level at 2800. But some correction before that can not be ruled out. Correction

Development Bank : Closed lower at 1771 than the open 1779. Trading pretty much right at the 20 EMA at 1763. As long as the index is above the EMA, we look forward to tests of levels 1800 and 1840. Up

Hydro-Power : Rocking crazy. Opened at 1144 and closed at 1201. Trading way off 20 EMA at 1074. NEA’s MD’s tenure has to do something with this move ? Next resistance level is at 1225. Let’s see how it goes in the coming days. Opening positions in hydro-power? it’s a bit late for now, should wait for correction, or the resistance penetration? Indecisive

Life Insurance : Trading at 9830, way off 20 EMA at 9267. Close to resistance 10000. Just wait and watch for these equities. Indecisive

Hotels : Closed impressively bullish candle opening at 1632 and closing at 1723. Should be moving further up ahead. Up