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Nickel Trading Outlook

Nickel April contract on mcx inched 5.40 rupees down to settle at 946.60. Today support would be 943 any failure below that level would bring 933-923. Resistance is now seen near 962 any sustained move above that level would bring more charm and then retest to 970-980 may take place.

Nickel trading range for the day is expected among the key support at 940 and resistance at 970.

Recommendation:

·         Today again selling below 943 with stop loss above 950 for targeting 937-931-26 and more down side.

·         Buying above 962 with stop loss below 950 for targeting 970 and more.

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