Yesterday the LME nickel stock was 438mt against the previous of 606mt. Nickel has touched a low of Rs 776 a kg after opening at Rs .785.2, and last traded at Rs 779.3.
For today market is looking for the support at 774.2, a break below could see a test of 769.1 and where as resistance is now likely to be seen at 786.2, a move above could see prices testing 793.1.
Trading Ideas:
TRADING RANGE IS 770.00-800.00.
BUY NICKEL @ 770-774 SL 766.80 TGT 778.20-781.20-786.50-789.80. MCX
IMPORTANT SUPPORT LEVEL WILL BE 764 LEVELS.
Courtesy: JRG Wealth Management
