Buy Nickel Above 1335 SL BELOW 1332 TGT 1339/1345 - Axis Securities Ltd
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NICKEL
Nickel prices edged higher in the evening session after it broke the strong resistance zone of 1315 and rallied higher up till 1325 level on intraday basis. Overall trend is looking positive for prices as it is trading above 20 and 60 days EMA. Strong resistance can be seen around 1335 level. Breakout above the mentioned level may push prices higher towards 1339 level on intraday basis.
BUY NICKEL ABOVE 1335 SL BELOW 1332 TGT 1339/1345
ZINC
Zinc prices traded volatile in last trading session. Prices rallied higher up till 218.5 level after it broke the immediate resistane level of 216.5 and touched 218.6 level on intraday basis. Near term trend is looking positive for prices as on hourly chart prices is trading above 20 and 60 days EMA and RSI is also above 60 level. Any correction down till 216.5 level can be used as an buying opportunity.
BUY ZINC AROUND 216.5 SL BELOW 215.5 TGT 217.5/218.6
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