Sell Nickel Around 1425 SL Above 1428 TGT 1422/1418 - Axis Securities
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Nickel
Nickel prices edged lower in last trading session after it broke the level of 1435 and drifted lower towards 1410 level on intraday basis. On hourly chart prices is trading below 9 and 20 days EMA and RSI is below 40 which indicate that momemtum in weak in prices. Any rally in Nickel towards 1425 may be used as an selling opportunity for the target of 1422 on intraday basis.
SELL NICKEL AROUND 1425 SL ABOVE 1428 TGT 1422/1418
Natural gas
Natural gas prices edged higher in last trading session after it broke the level of 295 and touched 314 level on intraday basis. Overall trend is looking positive for prices as it is trading above 9 and 20 days EMA and RSI is also above 70 level indicating high momemtum in prices. Traders can buy Natural gas on dips around 304 level for the target of 307 on intraday basis.
BUY NATURAL GAS AROUND 304 SL BELOW 301 TGT 307/310
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