MoneyMunch.com

2020’s Uptrend Channel Is Everything For MCX Nickel

Posted: 06 Feb 2022 01:42 AM PST

MCX Nickel is following the above uptrend channel from 23 Jan 2020. And making a good trade opportunity for commodity traders. Nickel’s upward trend is not over yet. But we may see a downfall below the control price, and it can be up to 1686 – 1620.

But what happens if it breaks the control price?

It’s a 100% sign for a buy signal. But intraday or short-term investors should confirm that breakout before proceeding. And they must look out for candle’s fakeout. Afterward, be ready for the targets of 1800 – 1840 – 1876+.

Would you like to get our all commodity updates instantly? We have an option for you.
Click Here: Free Commodity Tips

Do you want to get Premium Calls only?
Click Here: Premium Commodity Tips

If you have any questions or concerns about Commodity Market then contact by following ways:
Email: [email protected]
Phone: +91 903 386 2706

Have you any question/feedback about this article? Please leave your queries in the comment box for answers.

The post 2020’s Uptrend Channel Is Everything For MCX Nickel appeared first on Moneymunch.

NSE PEL Is Preparing for 2400 – 2301

Posted: 06 Feb 2022 12:00 AM PST

TARGETS:
Traders can initiate short positions for the following targets:
2400 – 2376 – 2301 – 2279

BUT DON’T TRADE BLINDLY. Read this following research to get how it is making selling opportunities for the intraday traders.

PEL is forming a double combination pattern on the 4-hour timeframe chart. Price has constructed LL(lower-low) and LH(lower-high) to confirm the bear’s existence.

Wave Formations:
Wave (W) is a double zigzag formation with seven wave structures.
Wave (X) is a contracting triangle with five sub-wave structures.

Wave (Y):
Sub-wave wave A & B has occurred, and wave C is progressing.
Sub-wave B has completed at 61.8% Fibonacci retracement of wave A at 2531.

The culmination point of wave C:
Wave C can end at 61.8% of wave A at 2279.
Wave C can cease at 50% of wave A at 2333.
Wave C can conclude at the control line, and 61.8% of wave ((W)) at 2376.
After completion of wave C, the price will start its bull run.

Invalidation: For premium subscribers only.

Would you like to get our share market updates instantly?
Click the link to join: Free Stock Tips

Do you want to get premium NSE calls?
Click the link to subscribe: Premium NSE Stock Tips

If you have any questions or concerns about the stock market, don’t hesitate to contact me:

Have you any questions/feedback about this article? Please leave your queries in the comment box for answers.

The post NSE PEL Is Preparing for 2400 – 2301 appeared first on Moneymunch.