Nickel yesterday traded with the positive node and settled 0.91% up at 840.4. Some support had been seen from the LME stock also which came down by -186mt, the total stock at LME is now at 163518mt. In yesterday's trading session nickel has touched the low of 825.5 after opening at 831.9, and finally settled at 840.4.

For today's session market is looking to take support at 825.6, a break below could see a test of 810.80 and where as resistance is now likely to be seen at 855.1, a move above could see prices testing 869.80. Spread between nickel JAN & FEB contracts yesterday ended at 3.90, we have seen yesterday that the nickel market had traded with a positive node and settled 0.91% up. Spread yesterday traded in the range of 3.90- 5.40.

Trading Ideas:

Nickel trading range is 820-860.

Russia's nickel output fell 2.5% on the year.

Nickel is getting resistance at 844.60 and support at 836.10.

Spread between nickels JAN & FEB traded in the range of 3.90-5.40.

DUE TO MINERS TREAT NICKEL LOOK SUPPORTIVE WAIT FOR CALL TO BUY