mcx nickel weekly- 530-560 is buy and accumulate zone

mcx nickel weekly forecast for 30 nov. to 4 dec. 2015

Mcx nickel future this week closed with gain at 585. This was first positive week for nickel future after last 6 weeks continues selloff. This week nickel future low was around 542 while high was at 618. Total almost 70 rupee or 10%+ move from bottom and positive weekly closing. 570-550 zone remain as temporary bottom for nickel and on upside nickel might see supply from market around 595 and 610 levels.
From investment view, mcx nickel 530 to 560 zone is best to buy and accumulate zone for a minimum target of 665. While for short term traders 595 and 610 are fresh shorting levels.

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Updated: 29/11/2015 — 1:05 PM

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Pramod Baviskar

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