Tuesday, April 26, 2011

MCX Nickel Updates for today evening

Nickel prices have shown a little looses in the early morning trades on MCX. Nickel prices were weak in earlier trade on lower activity on account of closing of US market. On Tuesday, MCX Nickel future April delivery dropped by 0.89 percent to 1154.30 rupees per Kilogram. Due to highly volatile price movement, it enclosed for increase in speculative activities in base metal pack.

Nickel prices have bounce back from 1154 rupees due to some bottom fishing activity in international market. Investors show some confidence to buy this metal at cheaper rate.

For ongoing week, Nickel prices may trade between thin ranges of 1140-1190 rupees. Nickel futures have found tough in ensuring a steady momentum in market ahead of near expiry in base metal complex at MCX.
Prices may remain under pressure in near term due to uncertain demand and supply outlook,


Posted By Commodity MCX Tips