Commodity Market Weekly Technical Report 5th Aug 2013:-
Nickel:-
Nickel on MCX has
been trading in the range of Rs810-Rs850 in last 2 months. Prices have given a
breakout of this range and closed above its 20 weeks simple moving average of
Rs843.50 for the first time in 5 months, which is a short term bullish signal.
We are expecting prices to move up till Rs900 in next few days.
We recommend buying Nickel in dips till Rs840 for the targets of
Rs885 and Rs900. Positional stop loss should be placed below Rs810.
MCX Nickel Weekly
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