MTECHTIPS MCX NICKEL INTRADAY trading analysis 16-11-2015
Mcx nickel this week closed at 625 with loss. this was fifth losing week for nickel prices. nickel future price trend and momentum both are bearish and prices are in oversold area on weekly chart. mcx nickel weekly support zones are 617 and 598. mcx nickel weekly resistance zones are 631 and 644. mcx nickel future weekly trading call will be expect 617 and 598 as downside targets for shorts. for long term investors, sub 600 rupee levels will be best buy and accumulate opportunity with 6 to 12 month price target 840 rupees.