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MCX Nickel Dec: Sell on rise around 745 levels for the day -
MCX Nickel Dec: Sell on rise around 745 levels for the day
Way2wealth | Published: 04 Dec, 2017  | Source :

MCX NICKEL DECEMBER: In the last session nickel prices made minor re-bounce and extended till 737 and finally settled at 731.40. As per the trend line the resistance is at the 750 mark and as the price has given a bearish breakdown of Head and shoulder pattern the trend is likely to remain downward, thus we advise selling on rise around 745 levels for the day. Action: Sell

MCX ZINC DECEMBER: On Friday, zinc prices witnessed sharp bounce and ended at 210 mark gaining 2.70%. The price has exactly tested the trend channel resistance and settled within that. Ahead, if it fails to surpass the channel resistance, then the price will once again turn lower till the supports of 204 then 199 levels. Thus, we recommend selling around 210 with a strict stop at 212. Action: Sell

On Friday, the soy bean prices remained side way to positive and ended with marginal gains at 3030. As per the trend line resistance is at 3080 levels and for the day, we expect the price could test these levels could turn lower. Thus, we recommend selling on rise around the resistance of 3080 levels on the downside targets of 3000 and lower. Action: Sell

On Friday, cocud prices extended its gains with slow pace and ended at 1614. Prices are exactly revering from the neckline supports of an ascending triangle pattern and ahead, prices are likely to extend further till the immediate swing high of 1648 then 1700 levels. Thus, we recommend buying around 1600 for given targets. Action: Buy

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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.