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MCX Nickel July: Expect Higher Range To Be Tested

21 Jul 2016 10:03 am
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Report for Date:21/07/2016

MCX Nickel July: Expect Higher Range To Be Tested

MCX Nickel (Price figures below are in Rs/INR per Kg)

Traders long can maintain the stop loss at 684.

Expect higher range of 714.9-732.8 to be tested.

Weaker opening and correction first to 703.4-697 or below can be used for buying with a stop loss of 684.


TREND INFORMATION WITH INTRA-DAY LEVELS

STRATEGY

CLOSE

DRV

TREND*

Trend

Price

Trend

Date

L1

L2

CP

L3

L4

Hold Long

708.40

658.23

UP

604.90

8.06

679.1

697.0

703.4

714.9

732.8


*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close

Price G/L%

Volume

V -G/L%

Open Interest

OI -G/L %

Candle

Position

708.4

0.8


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