Here, I have used Elliott wave theory, Fibonacci Retracement, and MA ( 30 & 62 ) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa. In other words,...
Target 1067.5/1064 However main Stop loss at 1085. Risky traders please proceed. * Disclaimer : I just shared my view. Please trade with you own and comfortable views.
Nickel looks like a good buy with small stop loss and great returns
Analysis is based on head and shoulders pattern Short on Nickel Futures (chart is at the peak of second shoulder) This is a long term position (approx 6-8 months). Intermediate shorts can be taken with the help of support and resistance levels. Target 1: 1057 Target 2: 972 Target 3: 910 Initial Stop Loss: 1160
Intraday Commodity Future Buy NICKEL SEP @1124-1125 SL 1121 TGT 1132 Reason: Above VWAP and if it stays then we can see more upside there is already TK cross over and MACD cross over as well.
Intraday Commodity Future Buy NICKEL AUG @1095.9-1096.9 SL 1091.80 TGT 1105 Above VWAP + TK cross over + MACD cross over GO LONG
Intraday Commodity Future Buy NICKEL AUG @1073.2-1074.2 SL 1070 TGT 1081 TK crossover + MACD cross over GO LONG
Nickel Bulls are really putting the work in recovering an impressive 22.5% from the pandemic March lows. Nickel has remained inside a multi-year rising channel (A) and is now facing a strong resistance hurdle before further upside is likely to resume (for the medium-long term). Nickel mining companies are being urged to mine more nickel, as the Nickel ‘battery’...
Intraday Commodity Future Sell NICKEL AUG @1037-1038 SL 1043.50 TGT 1027 TK cross over on the downside MACD bearish cross over Icihmoku cloud break down
Intraday Commodity Future Sell NICKEL AUG @1049.6-1050.6 SL 1053.70 TGT 1042 TK cross over + MACD bearish cross over with good volume
950 - 965 bounce back zone....
Intraday Commodity Future Buy NICKEL JUL @1009-1010 SL 1005.40 TGT 1018 TK cross over with huge volume and ichomoku cloud break out
Intraday Commodity Future Buy NICKEL JUL @998.5-999.5 SL 994.30 TGT 1009 TK cross over on 30 min chart so looks bullish on short term chart.