Nickel has started moving forward since March 2021. It will complete the 5th wave soon.
According to Elliott wave projection, MCX nickel can touch 1570 to end the 5th wave.
Intraday & short-term traders can buy nickel for the target of 1485.6 – 1506 – 1532 – 1550 – 1570 .
trendline breakout possibility on both long and short side
entries, stop and tgt at respective levels
my personal view is wait for breakout at long side
but cant say anything about market.
there is good risk reward ratio at both sides, though.
Nickel is forming an short opportunity levels r been mentioned in the chart kindly see the level and trade accordingly . Volatility can seen in coming days as nickel is at critical point can give many try to test the resistance level keep stoploss wisely and trade if unable to break the resistance level then more likely it will test the given support level .
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS
ORANGE LINES ARE SELL LEVELS
IF OPENING 15MIN CANDLE TOUCH BLUE LINE GO FOR...
long only above todays high stop loss same candle low .
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Nickel is on way to cross 1500 levles. Some hiccups might be there but until it breaks 1200 on DCB , there is no weakness in the counter. Dip wards 1330 can be used to initiate long and add more aound 1290.
Disc : it's not an investment advice to buy or sell
Om Namah Shivay
Possible that Nickel is preparing for a turning.
Can move up to make a longer impulse.
But it is more possible that the metal could weaken
and make some corrections. If it corrects then the
targets will be 1160, 980,836
This is for educational purpose only. There are no trading suggestion in this.
Om Namah Shivay
According to this chart, nickel is further advance. Once it breaks the hurdle, it will start marching for 1260 - 1280 - 1300 levels.
Whenever it hits the hurdle level, what will happen? Here, it will act as resistance. We may see reversal up to the support line ( 1212 - 1180 ).
Short-term investors can continue position for the above targets.