Mcx nickel monthly-remain bearish below 760 targets 695 and 630

Mcx nickel monthly report for December 2016

Mcx nickel monthly report for December 2016

Mcx nickel future on last trading session closed at 764 with loss. Mcx nickel future price trend is bullish but momentum is losing out which might change trend eventually.   Mcx nickel December outlook remain bearish below 760 rupee support. Above it remain bullish and buy and accumulate for targets 825 and above. On downside 695 and 630 are my support zones as well as bearish target for mcx nickel future. Expect high volatility on both sides due to news flow.   Mcx nickel weekly chart price trend and momentum both are bullish and nickel is heading for 860 long term target but support is way down around 700 rupee and might test it in short terms.

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Pramod Baviskar

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