Friday, 24 March 2017

Nickel Trading Range For The Day Is 646.8-663.8 by Ripples Advisory Pvt Ltd

Nickel on MCX settled down -0.65% at 654.10 as sign of comfort in the Chinese nickel market is that inventories monitored by the Shanghai Futures Exchange are still at relatively high levels. Prices are under pressure on the sign that there is no shortage of Nickel in China, China is still getting all of the nickel it needs, simply by increasing the amount it buys in more refined forms.



Trading Ideas:

*Nickel trading range for the day is 646.8-663.8.

*Nickel dropped as sign of comfort in the Chinese nickel market is that inventories monitored by the Shanghai Futures Exchange are still at relatively high levels.

*Prices are under pressure on the sign that there is no shortage of Nickel in China, China is still getting all of the nickel it needs.

*LME stocks cancelled warrants increased 870 tonnes to 101,166 tonnes.

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