India, April 16 -- Technically Nickel market is under fresh selling as market has witnessed gain in open interest by 7. 47% to settled at 1468 while prices down 1.3 rupees.
Now MCX Nickel is getting support at 1222.5 and below same could see a test of 1206.8 levels and resistance is now likely to be seen at 1248.4 a move above could see prices testing 1258.6.
Nickel yesterday settled down by 0.1% at 1238.1 as refined nickel imports rose YoY in January and February imports to exceed 10000 mt again in March.
China s economy likely grew at record pace of 19% in the first quarter rebounding from a pandemic slump early last year as demand recovered at home and abroad and as policy support for ailing smaller firms continued.
While the reading...