MCX Nickel Jan
Buy above 989.50
Targets : 991-993
Stoploss : 988.90
Nickel Technical Views : Evening Report
Buy above 989.50
Targets : 991-993
Stoploss : 988.90
Nickel Technical Views : Evening Report
The primary trend for nickel is down as we are observing lower top lower bottom formation on the weekly chart. Intermediate and minor term trend is up as there is a higher bottom higher top formation on the daily chart. The technical indicators like MACD and RSI are in a buy mode. Currently, prices are trading close to a crucial resistance of 1010 which is the previous top. A sustained breakout above this level will see another round of upside in nickel for targets of 1140 and 1275 levels.
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