Mcx Nickel Report : 7th June 2019

Insignia Consultants

New Delhi

Friday, June 7, 2019

TIME 10:48 AM IST                 

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MCX NICKEL REPORT

Momentum is bearish for Nickel. However I do not expect to by more than fifteen percent in the short term. Upward potential is unlimited. Extreme global trade risk can cause nickel to move into a medium term bearish zone.

TECHNICAL VIEW

Nickel May 2019: (previous day close/CMP Rs.854.70):

• Key support is at 840.10.
• Crash will be there below 840.10.
• Nickel needs to trade over 840.10 till next week to rise to 890 and 915.
• Low risk traders remain on the sidelines.

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.Website www.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

ALL VIEWS ARE INTRADAY UNLESS OTHERWISE SPECIFIED

PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
ALL PRICES ARE IN INDIAN RUPEE UNLESS OTHERWISE SPECIFIED
APPROPRIATE STOP LOSSES PER LOT IN INDIAN RUPEEES ON THE TRADING CALLS GIVEN IN THIS REPORTTHE TIME GIVEN IN THE REPORT IS THE TIME OF COMPLETION OF REPORT
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