MCX Nickel positive; Lead may witness buying sentimentsMCX Nickel positive; Lead may witness buying sentiments...

MCX Nickel positive; Lead may witness buying sentiments

MUMBAI :- The trend in nickel futures for July delivery on India's Multi Commodity Exchange (MCX) is positive and the commodity is expected to trade with a positive bias for the day, according to our analyst at Commodity Online.

“For intra-day, support for the commodity is seen at 822 and 812 levels while resistance is at 835 and 847 levels,” said Melbin Noble, Research Analyst at Commodity Online.

“Traders are advised to take long position near 830 with the stop loss of 822 for the target at 838 and 846 levels,” he pointed.

MCX nickel for July delivery was seen trading down by 0.29% at Rs.832.30 per kilogram as of 04.51 PM IST on Friday.

MCX Lead

Lead futures for July delivery is expected to trade sideways for the day and intra-day traders are advised to take advantage of both sides.

“For intra-day, support for the commodity is seen at 120.1 and 119.6 levels while resistance is at 121.4 and 123 levels,” said Melbin.

“Buying sentiments are expected at lower levels and traders are advised to take long position near 120.6 with the stop loss of 119.6 for the target of 121.8,” he said.

MCX lead for July delivery was seen trading down by 0.33% at Rs.121.10 per kilogram as of 04.51 PM IST on Friday.

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