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Published on 23/09/2020 10:58:31 AM | Source: Axis Securities Ltd

Buy Nickel Around 1060 SL BELOW 1057 TGT 1063/1069​​​​​​​ - Axis Securities

Posted in Commodities Reports| #Commodity Tips #Axis Securities Ltd

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Nickel

Nickel prices traded in a range between 1060 and 1070 level in last session. Strong support zone in Nickel can be seen around 1060 where lower bollinger lies. As long as prices hold the mentioned level on hourly basis we can expect some bounce back in prices up till 1063/1069 level on intraday basis

BUY NICKEL AROUND 1060 SL BELOW 1057 TGT 1063/1069

 

Copper

Copper prices closed in green in last session after prices managed to break the important level of 528 and closed around 532 level. Prices has retraced up till 61.8 percent which is also termed as Golden ratio of previous downward movement from 539 down till 521. Overall trend is looking weak as on hourly chart, RSI is below 60 level which indicate low momentum in prices.Traders can sell COPPER around 532-532.5 for the target of 529 on intraday basis.

SELL COPPER AROUND 532-532.5 SL ABOVE 535 TGT 529/525

 

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