ATS Wealth Managers Pvt Ltd. Page 2. In a span of 4 months Nickel has corrected from the price level of 745 to the level
ATS Research Desk Nickel Trend for the Month of August TECHNICAL REPORT
Nickel Trend For The August Contract Recommendation CMP Target Duration
BUY 637.40 674 3 -4 weeks
In a span of 4 months Nickel has corrected from the price level of 745 to the level of 558 and had taken a strong support at the level of 558. From this support Nickel entered in a consolidation stage from the price level of 558 to 602. Fibonacci tool drawn from swing high to swing low confirms that once breakout level of 629 happens, Nickel will enter a bullish phase and we can see Nickel testing higher price level of 674. MACD indicator signaling change from negative to positive band further confirms that momentum is likely to take place and signals a bullish phase for Nickel. Nickel was trading above the mid-range of Bollinger bands and has recently given a breakout on the upper band. This breakout confirms that nickel is set to test higher price levels.ADX is trading with a tight band between +DI and –DI signal line. Once the crossover happens with an expansion along with a higher +DI level, the momentum on upper side, most likely with sharp spikes will confirm that Nickel entered a bullish phase. All the above indicators give a strong view to be Bullish for Nickel. Hence we recommend to “BUY” Nickel at current market levels 637.40 with a target level of 674 in the coming days. Research Analyst: Abhilash Dhanpal Technical Research Analyst Disclaimer: This report is only for the information of our customers. Recommendations, opinions or suggestions are given with the understanding that readers acting on this information assume all risks involved. The information provided herein is not to be constructed as an offer to buy or sell securities of any kind. ATS and/or its group companies do not as assume any responsibility or liability resulting from the use of such information
