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Buy MCX Nickel Jan: The overall trend still looks positive; Buy on dips -
Buy MCX Nickel Jan: The overall trend still looks positive; Buy on dips
Way2wealth | Published: 05 Jan, 2018  | Source :

MCX NICKELJANUARY: After opening at 785.50, nickel prices jumped up sharply and hit a high of 806.30. In the later session, it slipped slightly lower and finally ended at 801.60. The price has retested the neckline supports of an inverse head and shoulder and is inching higher from the same. The overall trend still looks positive and thus we recommend buying on dips around 795 levels for targets of 820 then 835. Action: Buy


MCX CRUDE OIL JANUARY: On Thursday, Crude oil prices continued its gains and rose till the high of 3950 in the first half and in the later session it slipped slightly lower and finally ended at 3930. The price is still moving along with the trend line and ahead we could see prices rise till the previous high of 3990 level. Surpass above 3990 will provide fresh bull rally in the counter. Thus, we advise buying on dips around 3900 levels for upside targets of 3990 then 4050 levels. Action: Buy

After opening at 3825 chana prices surged till the immediate resistance of 3888 and thereafter it slowly slipped lower and finally ended at 3850. Ahead, surpass above 3888 will provide fresh rally towards 4000 then 4200 levels for the medium term scenario. Thus, we recommend buying on a break of 3890 for today’s targets of 3950 then 4000. Action: Buy


MCX MENTHA OIL JANAUARY: Mentha oil prices recouped higher after testing the low of 1578 and in the previous sessions and on thusrday it edged higher and settled at 1661.50. Price is reverting back from the multi supports and ahead it manages to sustain above 1650 then upswing can be seen till 1750 levels. Therefore, traders can initiate long positions around 1650 for targets of 1690 the 1750. Action: Buy


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