Breakouts In Nickel Charts, Headed Towards 1150 In Short Run

IIFL reports nickel is all set to remain ahead of other metals from the beginning of new month.

The market news is quoted as saying,

The prices of Nickel are all set for a breakout in the daily charts on MCX. Since dipping towards Rs. 964 per kg on 20 June 2011, the prices of Nickel has formed higher bottoms. The dip from Rs. 1221 per kg in the Nickel prices on 3 May 2011, lasted tillRs. 964 per kg discussed earlier, forming a falling wedge from where the rise has been registered in the Steel material

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