Nickel yesterday traded with the positive node and settled 2.41% up at 1254.6. Some support had been seen from the LME stock also which came down by -258mt, the total stock at LME is now at 134040mt. In yesterday's trading session nickel has touched the low of 1230 after opening at 1230, and finally settled at 1254.6. For today's session market is looking to take support at 1237.7, a break below could see a test of 1220.9 and where as resistance is now likely to be seen at 1263.7, a move above could see prices testing 1272.9.

Trading Ideas:

Nickel trading range is 1220.9-1272.9.

Nickel yesterday traded with the positive node and settled 2.41% up

Nickel looks to take support at 1242 and resistance is at 1260 level

Spread between nickel FEB & MAR contracts yesterday traded in the range of 2.20 - 29.3.

BUY NICKEL FEB @ 1250 SL 1240 TGT 1256-1265-1272.MCX

YESTERDAY LME STOCK FOR NICKEL CAME DOWN BY -258