Sell Nickel Below 1302 Sl Above 1310 TGT 1290/1285 - Axis Securities Ltd
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NICKEL
MCX Nickel price extended losses after breaking trendline channel, price remains to trade negatively. Sustaining below 1302 would drag the| price lower towards 1290/1285 levels in intraday. As the price has started trading below 9,21&60 hourly EMA which is a bearish sign for the prices.
SELL NICKEL BELOW 1302 SL ABOVE 1310 TGT 1290/1285
COPPER
MCX Copper price has given negative breakout from descending triangle pattern breakout, price is expected to trade negatively. Sustaining below 765 next leg of the correction would drag down the price lower towards 760/758 levels in intraday. The momentum indicator RSI is forming lower lows and lower highs which is a bearish sign for the prices.
SELL COPPER BELOW 765 SL ABOVE 769 TGT 760/758
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