Make some noise for NEPSE: Index breaks above the all-time high during preopen session

NEPSE has successfully broken above the all-time high in today's reopen session. The highest point ever reached by the index was 1,881.45, in the previous bull run. Today, the index broke the ceiling above the 1,881 level.

As of writing this, the market is about to open and the index is at 1,894.79. It will be interesting to see where the index closes today.

The area above the 1,881 level is completely uncharted territory. Technical analysts lose their reliance on resistance and target when a stock or an index plays above its all-time high. Thus, what the index does now is completely in the hands of the investors. Nevertheless, it can be safely said that the previous resistance levels will now act as support.

Some are even of the opinion that the index will make 1,800 levels the support and won't trade at anything less even in the next bearish cycle.

Although the price is of little relevance to value investors, the formation of a new all-time high is certainly a special moment for all. In the last few years, NEPSE has seen immense improvement in its infrastructure, from digitized trading and payment to the inclusion of diverse companies. It is about time the "real" sectors of the economy get listed in NEPSE. If that happens, investors can get a sense of responsibility and fulfillment of contributing to their country by injecting the much-needed capital.