Mcx Nickel Report: 7th November 2019

Insignia Consultants

New Delhi

Thursday, 07 November 2019

TIME 9:05 AM IST                         

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MCX NICKEL REPORT

Nickel November has been trading 1166-1203 range. Nickel will move into a short term bearish phase if it trades below 1156 for a few days. I am against new investment in Nickel till a direction is there. I am talking about short term direction. In the long term nickel is very bullish on use in electric vehicle.

Nickel November 2019: (previous day close/CMP Rs.1175.00):

Small sell off below: 1163.10

Quick rise over: 1192.80

• Big support is at 1156.00.
• Nickel will crash below 1156.00.
• In case nickel does not fall below 1156.00by Monday, then it will rise to 1201.10 and 1222.20.

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

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NOTES TO THE ABOVE REPORT

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