Technical Outlook & Trading Strategy:-
The price of Nickel was consolidating in a broad range of Rs 1090--Rs 1061 levels over the past few sessions of trade.
The prices have been taking support at its key near term and short term moving averages on corrections.
The smart upmove witnessed over the past two sessions of trade is a sign that the prices are now ready for a fresh upmove.
The momentum indicators are gradually improving. We recommend traders to buy between Rs 1093—Rs 1084 levels with a stop loss placed below Rs 1069.40 levels for upside targets of Rs 1107 and followed by Rs 1120 levels expected to be achieved over the upcoming 3-5 sessions of trade.
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