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MCX nickel has given a triangular pattern breakout on the upside on the half-hour chart

As one can see from the adjacent chart, MCX nickel has given a triangular pattern breakout on the upside on the half-hour chart. After a steep fall from Rs.1,060 to Rs.960 it has consolidated and now it has given an upside breakout. Moving Average Convergence Divergence valued +0.15, Relative Strength Index valued 60 and Momentum valued +7.90. On any dips till Rs.983-Rs.977, one can buy for upside target of Rs1,000-1,010. The trade below 968 will negate a bullish view.

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