MTECHTIPS MCX NICKEL INTRADAY trading analysis 10-06-2016
DAILY :- Mcx nickel future given breakout above 592 and closed above it so expect 610 and 630 a short term targets on upside.
WEEKLY :-Mcx nickel this week closed with gain at 573.3. This was first weekly gain for nickel prices after last four weeks continues fall. On weekly chart, mcx nickel future price trend is down and this is just bounce back. For next week outlook remain bearish and strategy will be sell on rise. Mcx nickel future weekly support zones are 557 and 545. While on upside 578 and 588 are resistances as well as fresh short entry zones. For June 2016, mcx nickel future below 592 remain weak and sell on rise for targets 540 and 505.