Mtechtips NICKEL MCX intraday trading analysis 08-10-2012

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Mtechtips NICKEL MCX  intraday trading analysis 08-10-2012

Mcx nickel 31 oct 2012 expiry future on last trading session closed at 954.9 with gains.on daily candlestick chart nickel future still above 3 month level so short term uptrend is intact. on chart mcx nickel weekly level is 962 and monthly level is 958 which are now resistances and price trading below it while on lower side 930 is final short term support which is 3month level. on daily chart analysis,nickel may continue correction but as short term uptrend is still intact buying is suggested here.we are long on nickel futures.