Zambia's Chinese-owned Munali nickel mine will delay restarting production to early 2010 from October due to negotiations over working capital with a Chinese bank.

Nickel has touched a low of Rs 765.6 a kg after opening at Rs. 785.2, and last traded at Rs 778.5. For today market is looking for the support at 767.1, a break below could see a test of 755.7 and where as resistance is now likely to be seen at 788.4, a move above could see prices testing 798.3.

Trading Ideas:

NICKEL TRADING RANGE IS 750-795.

ZAMBIA NICKEL MINE TO DELAY OUTPUT UNTIL 2010

BUY NICKEL NOV @ 776-779 SL 760 TGT 782.50-786.80-790-794-802. MCX

OVERALL MARKET ABOVE 770 LOOK BULLISH

RESISTANCE FOR NICKEL IS AT 782.20 ABV THIS LOOKS TILL 787-792.