MCX NICKEL NOVEMBER
On Friday, nickel price opened lower with a gap down at 758 by breaking the trend line support and fell till the low of 741.90. In the second half it slowly recovered the losses and ended at 753.80.The price has given a bearish breakdown and the next supports are seen at 730 then 716 of 50 & 61.8% retracement level.
MCX GOLD DECEMBER
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After four sessions of continuous fall the gold prices dip till the trend line supports and reverted back in the second half and ended at 29318. Ahead, if the prices manage to hold above the trend line then a sharp recovery can be seen till 29500 then 29600 levels. Thus, we recommend buying around 29240 for targets of 29500 for the day.
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