Nickel future analysis for 25 to 29 march 2019.

Nickel future daily chart analysis

Nickel future on Friday closed at 893 with gain. Nickel future given breakdown around 915 levels and we saw low of 878 rupee and nickel almost hit 875 rupee sell target, now below 915 will remain weak and sell on rise with stop loss for targets 875 and then possibly deep downside up to 820 rupees.

Nickel future weekly chart analysis

Mcx Nickel future this week closed with gains. This was first weekly gains for nickel prices after last week’s sell off. On weekly chart nickel major long term support is around 867 rupees and below it expect downtrend and lower targets of 640 and below. On upside 1000 rupee was target and we saw high of 969 rupees in previous weeks.

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Nickel future technical analysis for 14 to 18 January 2019.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 805 with gain. Nickel future is in strong recovery phase and we saw nickel price from low of 735 hit 762 recovery target then 788 rupee first bullish swing target and now moving towards 830 rupees next swing target. If gives breakout above 830 then expect super bullish trend and targets of 858 and 900 rupees. On downside 790 and 780 are strong support zones for nickel prices in short terms.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed with huge gains. This was second weekly gains for nickel prices and in these 2 weeks we saw recovery from low of 735 rupee to high up to 810 rupees. On weekly chart nickel price trend is down but momentum is on recovery side which might continue ahead. Here prices are recovering towards 865 rupee resistance level so that will be target zone for this recovery move. On downside 780 and 750 rupees will act as temporary support zones. If gives breakout above 765 on weekly closing basis then expect 990 rupee investment targets.

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MCX NICKEL weekly-bullish breakout heading for 788-830 levels

MCX NICKEL weekly analysis for 7 to 11 january 2019

• nickel future on last trading session closed at 773 with gain.

• nickel as expected reocvered towards 762 rupee levels from oversod zone.

• mcx nickel now tading above 762 with bullish breakout and will head towards my bullish swing targets of 788 and then possibly 830 rupees.

• above 762 keep buy on dips view with strict stop loss for targets 788 and then 830 rupees.

• if slips beow 762 then downtrend will continue and lower levels up to 720 can be expected !!

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Nickel future technical analysis for the month of January and also long term investment forecast for year 2019.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 743.5 with loss. Nickel future is in absolute downtrend and on daily chart we saw breakdown below major averages around 920 level and nickel already recorded low of 735. Means almost lost 185 rupee or 21% after breakdown. Means bear market for this commodity as prices down by 20% plus.

For month of December, mcx nickel future below 762 will remain weak and sell for my month’s targets 720 and then possibly 690 rupees. Nickel prices trading way below major short term averages with bearish and oversold indicators and oscillators.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed with loss. This was second weekly loss for nickel prices after bounce back. Here also prices are trading way below all long term averages with mixed signals on indicators.

For 2019 with long term view, mcx Nickel is in absolute downtrend and trading at record lows. Here 860 rupees is major resistance zone on weekly chart and below it expect downtrend to remain intact. On downside 630 and then possibly 500 rupees will be my target zones for this commodity in year 2019.

Nickel future monthly chart technical analysis

Mcx Nickel future in month of December closed with loss. This was sixth losing month for nickel prices and in these 6 months we saw nickel tumbled from highs of 1028 to low of 735 rupees means almost 300 rupee drop or 29% downside for this commodity. This means bear market for this commodity ad in upcoming months expect much lower levels here.

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Nickel future technical analysis for 24 to 24 December 2018.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 258.9 with loss. Nickel future is in absolute downtrend and we saw bounce back up to 795 but failed to cross 801 resistance which resulted in sell off and nickel made fresh low around 754 rupees. Below 801 nickel will remain weak and sell on rise while on downside 725 and then 670 rupees are major support zones as well as target levels for this downtrend. Daily chart indicators are bearish but oversold so stay cautious for bounce back moves.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed with loss. After last 3 weeks gains we saw downtrend kicked in this week and nickel is back to previous lows. Here nickel is in long term correction and prices are retracing towards 730 rupee support zone. If slips below 730 then expect sharp selling and levels up to 620 rupees in longer terms.

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Nickel future technical analysis for 17 to 21 December 2018.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 790 with gains. Nickel future is in downtrend but formed bottom around 760 and now bouncing back towards 802 resistance zone. Above 802 expect uptrend and bullish targets of 850 and then possibly 930 rupees. Mcx nickel daily chart indicators and oscillators are with bullish signals. If nickel prices fails to cross 802 level then expect sharp sell off up to 723 rupees.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed with gain. This was third gaining week for nickel prices. In these 3 weeks we saw nickel prices recovered from low of 751 to highs of 804 rupees. Nickel prices now hovering around 5 weeks averages and ready to recover. Look like nickel taken long term support just above 730 levels and now heading towards 902 resistance zone on weekly chart. On weekly chart nickel is deeply oversold and ready to bounce back.

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Nickel future technical analysis for December 2018.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 775 with gains. Nickel future is in absolute downtrend and on daily chart we saw breakdown below major averages around 920 level and nickel already recorded low of 751. Means almost lost 110 rupee or 19% after breakdown. Prices trading way below averages but now formed temporary bottom around 750 and now bouncing back towards 801 resistance level.

For month of December, mcx nickel future below 801 will remain weak and sell for targets 725 to 670 rupees. Current recovery move is heading towards 801. If gives breakout above 801 then go long with stop loss for targets of 850 and then possibly 930 rupees. 801 will remain as make or break level for nickel futures in month of December.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed at 775 with gain. On weekly chat, Nickel future is in downtrend and trading below averages. This week we saw low around 850 and prices showing some recovery from that low.

From long term view, mcx Nickel is in corrective phase. In Bull Run we saw nickel future achieved 905 and 1015 targets and now correcting towards support zone of 730 rupees and we saw low of 751 in November series. Above 730 long term uptrend will remain intact and upside levels up to 900+ can be possible once again. But slips below 730 then expect long term downtrend and lower levels up to 620 and below.

Nickel future monthly chart technical analysis

Mcx Nickel future in month of November given closing with huge loss. That was fifth losing month for nickel prices. In last month we saw high around 881 and low of 751 means 130 or 15% drop from the top. In last 5 months nickel prices tumbled from 1028 highs to 751 rupee low. Means 27% loss from the top and start of bear market for this commodity. On chart 730 is major long term make or break level for this year and investors must watch that level closely.

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Nickel weekly: Hit 824 Sell TGT, now watch for 785

Nickel future technical analysis for 19 to 23 November 2018.

Nickel future daily chart technical analysis

Nickel future on Friday closed at 816.7 with gains. Nickel future is in absolute downtrend and on daily chart we saw breakdown below major averages around 920 level and nickel already recorded low of 807. Means almost lost 110 rupee or 12% after breakdown. Prices trading way below averages with bearish price and indicators pattern suggesting downside still left for this commodity.

For month of November, my nickel targets were on sell side and those were 824 and then 785, out of which 824 is done and now prices inching towards 785 rupee level.

Nickel future weekly chart technical analysis

Mcx Nickel future this week closed at 816.7 with loss. On weekly chat, Nickel future is in downtrend and trading below averages. This week we saw high around 838 and low was around 807 means 31 rupee range and another weak closing for nickel prices.

From long term view, mcx Nickel is in corrective phase. In Bull Run we saw nickel future achieved 905 and 1015 targets and now correcting towards support zone of 730 rupees. Below 905 on weekly closing basis expect targets of 730 rupee in longer terms.

Mcx Nickel future Weekly chart stochastic indicators is in oversold zones with bearish crossovers. While MACD is below zero with absolute sell signal.

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