Here, I have used Elliott wave theory, Fibonacci Retracement, and MA (30 & 62) to identify the next move. At present, MCX nickel in a corrective wave. We may see a reversion bounce off here. It can be up to 38.20% to 23.60% of the retracement level. Wherein, 38.20% retracement level will act as a resistance and 50.00% vice versa.
In other words, nickel will start raising for 1076 – 1090 – 1100 level. Dynamic resistance breakout will lead the prices for a 23.60% retracement level. Intraday or positional trader can hold 1080 level.
If nickel breakout the strong support and 50.00% retracement level, don’t buy. That can slip immediately for a 61.80% retracement level.
Also, don’t forget to wait for a crossover of MA 30 & 62.
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wow!!!
sir, your predictions are so perfect……all targets are exactly touched…
Thank you.
Your articles are easy to understand, and targets are sharp. it’s very useful for me.
ohh!!! I’m a short term trader, I’m following your targets and it works every time. Thnk you
sir aluminum me kya lag Raha he??? sir, ng kharidu ?