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NICKEL

Nickel prices edged higher in last trading session and prices made a new 52 week high. On hourly chart it is trading above 9 and 20 days EMA and RSI is also above 70 level which indicate high momentum in prices. Any dips in price can be used as an buying opportunity around 1490 for the target of 1495 on intraday basis.

BUY NICKEL AROUND 1490 SL BELOW 1485 TGT 1495/1500

GOLD

Gold prices gave a gap up opening and rallied highe up till 48300 level in last session. Overall trend is looking positive for prices as it is trading above 20 and 60 days EMA. However fresh buying is expected only if prices is trading above 48500 level or else it may correct on acccont of profit booking. Traders can buy Gold around 48400 for the target of 48300 level on intraday basis.

SELL GOLD AROUND 48400 SL ABOVE 48500 TGT 48300/48200

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