Mcx Nickel Report: 14th October 2019

Insignia Consultants

New Delhi

Monday, 14 October 2019

TIME 9:15 AM IST                         

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MCX NICKEL (weekly) REPORT

Nickel has the habit of range trading for a very long time followed by a breakout or breakdown price moves. Nickel has been trading in 1190-1300 wider range. This range will be broken soon and a new range will be formed.

Nickel October 2019: (previous day close/CMP Rs.1245.60):

• Key weekly support is at 1206.20.
• Nickel needs to trade over 1206.20 to rise to 1281 and 1330.
• Crash or bearish trend will be there if nickel trades below 1206.20 to 1179.10 and 1129.70. 
• I will prefer to remain on the sidelines this week.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. All analyses used herein are subjective opinions of the author and should not be considered as specific investment advice. Investors/Traders must consider all relevant risk factors including their own personal financial situation before trading. Websitewww.insigniaconsultants.in. Prepared by Chintan Karnani

Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.

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NOTES TO THE ABOVE REPORT

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