MCX Nickel February contract has been on continues buying mode since last three weeks. It made a high of 1310.80 per kg during this week. MCX Nickel future prices remained above 55 days linear regression.
MCX Nickel February contract opened at 1294.20 per kg. It tested intraday high of 1299 and last traded at 1288. Buying is seen continued in Nickel at 1240-1250 levels. The contract faces resistance near 1350 while its support is seen near 1230.
Positional traders can buy MCX Nickel February contract near 1260 with stop loss of 1225 and can wait for target of 1340