MCX Nickel Report: 7th October 2019

By: Admin
2 weeks ago
2391

Insignia Consultants

New Delhi

Monday, 07 October 2019

TIME 8:40 PM IST                         

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MCX NICKEL (weekly) report

All industrial metals (including Nickel) will be impacted once China reopens tomorrow. China was closed for the past one week. There can very sharp two moves in Nickel till Wednesday. At the moment, Nickel is bullish.

Nickel October 2019: (previous day close/CMP Rs.1265.50):

  • Nickel can rise to 1344.90 and 1406.40 by end of October as long as it trades over 1186.10.
  • Immediate support is at 1225.80.
  • Crash or bearish trend will be there if nickel does not break 1305.20.
  • Immediate resistance is at 1305.20.

 

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

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