Tuesday, March 1, 2011

Nickel Updats- MCX Nickel Likely to Continue its Uptrend

MCX Nickel future prices remained above 10 days linear regression which suggests buying sentiments may continue. It tested higher levels of 1318.40 during the day. Buying continued in Nickel at 1280-1295 levels.

MCX Nickel March contract opened at 1312 per Kg. It last traded at 1315 up by 2.30 rupees. The contract faces resistance near 1365 while its support is seen near 1275.

Positional traders can buy MCX Nickel March contract near 1310 with stop loss of 1270 and can wait for target of 1360


Posted By Commodity MCX Tips