Buy Nickel Above 1345 Sl Below 1338 TGT 1355/1360 - Axis Securities Ltd
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NICKEL
MCX Nickel price is trading under an ascending triangle pattern, price is expected to trade positively. Any breakout above 1345 next leg of the rally would push the price higher towards 1355/1360 levels in intraday. The price has started trading above 9,21&60 hourly EMA which is a positive sign.
BUY NICKEL ABOVE 1345 SL BELOW 1338 TGT 1355/1360
NATURAL GAS
MCX Natural gas price is trading near support level of consolidation range, price is expected to trade negatively. Any breakdown below 214 next leg of the correction would drag down the price lower towards 210/208 levels in intraday. However, 20 hourly EMA has given negative crossover of 60 hourly EMA which is a bearish sign.
SELL NATURAL GAS BELOW 214 SL ABOVE 217 TGT 210/208
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