MCX NICKEL monthly prediction for dec. 2017
Mcx nickel future in month of november closed at 720 with huge loss.
for month of december, mcx nickel is in downtrend but in oversold state. on upside 762 is major hurdle and below it outlook remain weak and sell for deep downside targets 682 and then 638 rupees.
but if gives recovery and then gives breakout above 762 rupee then expect upside target of 805 to 885 till expiry.
from long term view, nickel future hit 838 rupee target and now correcting towards 678 rupee long term support.