AHMEDABAD (Commodity Online): Nickel January contract has shown constant upward movement after breakout of resistance of 1100 on 31st December 2010. It broke the price range of 1070 - 1095 which converted into result as positive trading for more than five days.
Nickel has been bullish since last 5 days. Profit booking is expected to take place in Nickel from its high of 1147.
“Technically, Nickel is expected to go up and traders can go for positional buying from 1113 levels for target of 1160 with stop loss 1080,” said Sawan Parmar, Analyst with Commodity Online.
