EquityPandit’s Outlook for Nickel for the week(April 22, 2019 – April 26, 2019):
Technically on the day-to-day charts we see minor assistance on the downside for Nickel Mcx Future lies in zone of 870- 860 levels, whereas minor resistance on the upside is capped about 925-930 levels.
If Nickel Mcx Future breaches minor assistance on the downside and closes beneath it we might see fresh break down and Nickel Mcx Future can head towards main assistance on reduced side about 840- 845 and if breaches minor resistance on the upside and closes above it we might see fresh breakout and Nickel Mcx Future can head towards larger levels about 950- 960
At the moment Nickel Mcx Future is trading above 200 days exponential moving typical and suggests extended term trend is bullish. EquityPandit’s analyst predicts variety for the week is observed from 950- 960 on upside and 840- 845 on downside.