Report for Date:29/07/2016 MCX Nickel July: Expect Higher Range To Be Tested
MCX Nickel (Price figures below are in Rs/INR per Kg)
Traders long and holding the same can maintain the stop loss at 684.
Expect higher range of 722-740 to be tested.
Weaker opening and correction first to 710-703 can be used for buying with a stop loss of 684.
On breakout and close above 730 expect a rally to 754 and 796.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
CLOSE
DRV
TREND*
Trend
Price
Date
L1
L2
CP
L3
L4
Hold Long
715.3
668.2
UP
604.90