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Dealmoney - Commodity & Currency Weekly Report - 20-Jan-20	Download pdf

Nickel (1020)

Sell Nickel @ 1020 SL 1040 TGT 990​

• Nickel after substantial rise from low of 960 levels to 1056 price was trading in range

• After accumulation phase between this range of 1010 to 1056 Nickel is showing sign of weakness

• Last week we saw levels of 1056 attracted profit booking and there was sharp correction to 1010 levels

• In this fall price breached 50 DMA and formed strong bearish candle

• We expect Nickel will find difficult to again move up from these levels & there could be some more fall towards 990 levels first