UPPER Stock Analysis: Potential 60% Upside in NEPSE?

UPPER Stock Analysis: Potential 80% Upside in NEPSE?

published by TradeXnepal

UPPER TAMAKOSHI HYDROPOWER LTD TECHNICAL CHART

Upper Tamakoshi Hydropower Ltd. (UPPER) has been a popular stock among NEPSE traders, and based on technical analysis, it might be setting up for a big move. In this post, we’ll break down the recent price action, key support and resistance levels, and the possible future trajectory of UPPER.

Current Market Overview

• Stock Name: Upper Tamakoshi Hydropower Ltd. (UPPER)
• Current Price: NPR 201.46
• Daily High/Low: NPR 204.00 / NPR 200.00
• Volume: 97.397K

UPPER has been trading within a consolidation zone after a strong bullish move last year. The stock is now sitting on a crucial support zone, which could determine its next big move.

Technical Analysis of UPPER

1. Major Support Zone Identified

The highlighted purple box in the chart represents a strong demand zone. This level has acted as a support multiple times in the past, making it a key area where buyers step in. If this level holds, we could see a bounce toward the next resistance levels.

2. Break of Structure (BOS) Confirmation

A Break of Structure (BOS) occurred earlier in 2024, indicating a shift in market direction. This suggests that the stock has strong bullish potential if momentum returns.

3. Fibonacci Levels and Future Targets

Using Fibonacci extensions, we can predict potential price targets:

• 1.618 Level: NPR 343.26
• 2.0 Level: NPR 378.44

If UPPER follows this technical setup, we are looking at a possible 80% upside from current levels.

4. Volume Analysis

The volume remains strong, showing that investors are still active in this stock. If volume increases near the support zone, it could be a signal of accumulation before a breakout.

What’s Next for UPPER?

• Bullish Scenario: If the price holds above the support zone, we could see a breakout towards NPR 340–380 levels.
• Bearish Scenario: If the price breaks below support, we might see further downside before a potential reversal.

UPPER weekly technical chart

Final Thoughts

UPPER is at a critical level, and traders should closely monitor price action. A breakout from this zone could present a great opportunity for long-term investors and swing traders. As always, proper risk management is crucial before making any investment decisions.🚀