MTECHTIPS MCX NICKEL INTRADAY trading tips 20-09-2016
MTECHTIPS Nickel is in long- short-medium- short- term bull phase .Currently Nickel is in strong downtrend and the trend is supported with good volume The open interest is not increasing with trend.. The oscillator is showing SELL signal for short term Nickel is in HOLD SHORT position.Positionally Support for the Nickel is 669-667-665-662-642-.Resistance for the Nickel is 692.
Short term and Intraday Level of NICKEL
Nickel closed above 1 week high with volume signals up breakout Currently Nickel is in HOLD SHORT position Nickel is in sideways so for short term better buy above 688 or hold with stop at 642.5 The next resistance will be at 679.5 The Nickel is now trading is approaching oversold level. The oscillator is showing BUY signal
Intraday Trend- Buy above 688 and keep stop below 669.4 Target is 696 next 709.2 Below 661.5 trend reversal can occur and next level is 648.3.