Mcx nickel might correct towards 690 levels

Mcx nickel intraday outlook 4th November 2016 Mcx nickel intraday outlook 4th November 2016 Mcx nickel future last closed at 700 with gain. Mcx nickel moving higher above 691 as expected and hit high around 705, but daily chart price pattern and indicators suggesting on upside commodity will face strong supply from market. For today mc nickel future outlook remain weak and expect correction.   Mcx nickel future intraday resistances as well as intraday short entry zones are 705 and 708. On downside 692 and 690 are support zones as well as intraday targets.   Current price and indicators pattern suggesting nickel short positions with stop loss for targets 690 and 672.

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Pramod Baviskar

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