MCX nickel: Go long if it rallies above ₹1,335 Yoganand D BL Research Bureau | Updated on June 02, 2021 × A break above the current resistance level of ₹1,335 will take the contract northwards to ₹1,400 The June month futures contract of nickel on the Multi Commodity Exchange of India (MCX) increased one per cent to ₹1,333 per kg on Wednesday. The contract is now testing short-term resistance at ₹1,335 levels. A conclusive breach of this hurdle will reinforce the bullish momentum and underpin the uptrend that started from the significant base at ₹1,145 levels in late March this year. Following a minor corrective decline in mid-May, the contract found support at ₹1,217 and now trades well above the 21- and 50-day moving averages. The daily relative strength index is on the brink of entering the bullish zone from the neutral region.