Wednesday, 8 August 2018

EPIC RESEARCH MCX Nickel UPDATE OF 8 August 2018

Nickel trading range for the day is 929.5-965.1.

* Nickel gained as dollar softened and as Chinese yuan showed more stability after the country’s central bank raised the cost of shorting the currency.

* China unveiled tariffs on 5,207 items imported from US, with the extra levies ranging from 5 percent to 25 percent, say could eventually undermine growth.

* The price spread between Jinchuan and Norilsk nickel remained wide in the Shanghai spot market due to tight supply of Jinchuan materials.

* BUY NICKEL AUG 2018 @ 945.00 SL 935.00 TGT 956.00-968.00.MCX

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