Monday, April 12, 2021 TIME 09:10 AM IST
Trading View: MCX Nickel is trading is just below 50 day MA and 100 day MA
MCX Nickel April 2021: (CMP Rs.1231.00)
Supports: 913.00, 1055.00, 1084.00, 1129.00. 1180.90 Resistances: 1286.00, 1359.00, 1378.00, 1417 and 1508.00.
Thirty day Nickel View:
Two hundred day moving average around 1180.90 is the immediate support. Nickel needs to trade over two hundred day moving average to be in a short term bullish zone and rise to 1317.70, 1382.70 and 1512.70.
Only a daily close below 1180.90 for four consecutive days will result in a short term bearish zone to 1122.70, 1080 and 958.50. Medium term fundamentals and long term fundamentals are bullish. Short term correction, crash by whatever name called should be used to invest. I cannot rule out a very sharp short term correction in Nickel.
(prices are in Indian Rupees above)
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NOTES TO THE ABOVE REPORT
ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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