Weekly mcx nickel tips for 21 to 25 November 2016
Mcx nickel future this week closed at 742.5 with loss. Mcx nickel after achieving all bullish and super bullish targets going through strong correction phase. Mcx nickel future on downside achieved my target of 740 and now heading for target 720. On upside 765 and 785 are resistances as well as stop loss levels for short sellers.
Below 720, mcx nickel target will be 690 which is very strong support zone for this commodity. On long term chart, mcx nickel is retracing toward major support of 700 rupee. Above it long term outlook remain bullish and target will be 860+.