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MCX NICKEL JANUARY: Buy above 775 for an upside targets of Rs 810 - IndiaNotes.com
MCX NICKEL JANUARY: Buy above 775 for an upside targets of Rs 810
Way2wealth | Published: 28 Dec, 2017  | Source : IndiaNotes.com

MCX SILVER MARCH

Technical Outlook


On Wednesday, silver prices extended its gains till the break down level resistance of 38688 and finally ended at 38650. Now the price has exactly come up till the resistance levels. Ahead, if the prices fail to sustain above 38700 then a profit book will be seen in the counter. Thus, we recommend selling below 38600 for a downside level of 38000 and lower.


Action  Entry           Target   Stop

SELL    Blw 38600    38000   38850


MCX NICKEL JANUARY

Technical Outlook

For last few sessions nickel prices have been consolidating in a narrow range. Currently the prices are in the process of forming Inverse head and shoulder pattern and in the Intraday chart the price, penetrating the channel resistance along with positive momentum indicators is signifying bullish sign. Thus, we recommend buying above 775 for upside targets of 810 then 824.


Action   Entry          Target       Stop

BUY      Above 775  810/ 824     755

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