EquityPandit’s Outlook for Nickel for the week (Mar 11, 2019 – Mar 15, 2019) :
Technically on the daily charts we see minor support on the downside for Nickel Mcx Future lies in zone of 967- 970 levels, where as minor resistance on the upside is capped around 910- 912 levels.
If Nickel Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Nickel Mcx Future can head towards major support on lower side around 858- 860 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Nickel Mcx Future can head towards higher levels around 1009- 1010
Currently Nickel Mcx Future is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 967- 970 on upside and 910- 912 on downside.