mcx nickel weekly technical outlook for 16 to 20 nov 2015

mcx nickel this week closed at 625 with loss.
this was fifth losing week for nickel prices.
nickel future price trend and momentum both are bearish
and prices are in oversold area on weekly chart.
mcx nickel weekly support zones are 617 and 598.
mcx nickel weekly resistance zones are 631 and 644.
mcx nickel future weekly trading call will be
expect 617 and 598 as downside targets for shorts.
 
for long term investors, sub 600 rupee levels will be best
buy and accumulate opportunity with 6 to 12 month
price target 840 rupees.

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Updated: 15/11/2015 — 12:15 PM

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Pramod Baviskar

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