Thursday, 16 February 2012

MCX Nickel Live News




MCX Nickel may note some decline tracking international markets, however the downside remains capped. Weighing on prices is firmness in US Dollar, weakness in equities and waning demand from top consumer China.

 Also rising stocks at LME warehouses coupled with lower cancel warrants may weigh on the prices. Stocks rose by 1,125 tons yesterday. However the downside may be capped amid talks of production cuts by BHP Billiton. Support for MCX Nickel February contract is seen at Rs.970 while resistance is seen at Rs.1,010.


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