MCX Nickel Jan contract on last Friday well settled at 909.50 up by 18.10 rupees from Thursday closing price. Nickel is now forming a bottoming pattern and very soon a nice recover possible in this commodity. Immediate support is around 890 if sustain below that the next level will be 880-870 on charts. If Stable above 890 will remains bullish for this commodity and sustained move above 912 it may hit 935-950 zones.
Nickel trading range for the day is expected 866 and resistance at 912.
Â· Buying nickel around 895 sl below 880 trgt 935-955 in short term.
Â· Buying above 912 sl below 890 trgt 935-955.
Â· Selling below 866 sl above 880 trgt 845-830-810.
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