Mcx nickel intraday outlook for 26 December 2016
Mcx nickel future is trading at 690 with loss. Opened gap down at 701 and faced continues selling in intraday.and then we saw intraday swing low near 677. Below 695, and expect deep downside positional target around 626. Expect panic selling and continues fall at bottom. Overall commodity market volatility will remain high on dollar index fluctuation and thin volume market. below 702 from long term view, entered bearish market and heading towards long term support of 415 rupee which is also target zone if gives monthly closing below 702. resistance zones are 706 and 735. On downside 690 and 654 are support zones as well as target zones for intraday sellers.