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Technical Analysis
Nickel Reversal possible according to chart
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9 April, 2014, 1:45 PM
Nickel April contract on mcx inched 7.70 rupees up to settle at 990.30. Nickel is witnessing a double top near the areas of 1002 and settled with a bearish harami candlestick pattern on daily chart. Today price objective for bulls would be 994.10 and then 1002 any sustained move above 1002 would bring some more charm and then we may see 1015-1030 and more upside. Support is now seen near 979 any sustained move below that level would bring more weakness and then 970-960 are likely.
For view on Chart click: http://prntscr.com/38cpr3
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