mcx nickel weekly technical analysis for 14 to 18 march 2016
Mcx nickel future this week closed with loss. This week we seen high volatility and almost 60 drop in nickel price from top. On chart,is going through deep correction after bounce back. On downside 565 is major support and nickel might test it. Above it outlook remain bullish and strategy remain buy and accumulate for target 615 and 650. Nickel achieved my given 615 target and tried to test 649 with high of 638.5. Below 565 expect another downcycle for nickel prices with targets 530 and 485.