Vale Inco planed to restart nickel production at its mining and milling operations at Voisey's Bay. The project was laid idle due to strikes from August 1st, 2009. Nickel has touched a low of Rs 835.5 a kg after opening at Rs.848.8, and last traded at Rs 838.5.For today market is looking for the support at 831.7, a break below could see a test of 824.9 and where as resistance is now likely to be seen at 849.1, a move above could see prices testing 859.7.

Trading Ideas:

Nickel trading range is 815-855.

Vale to Restart Operation of Nickel Mine at Voisey's Bay

Talks to end Labrador mine strike break off

Jinchuan Group again raised nickel ex-works prices by RMB 4,000/mt, to RMB 145,000/mt

SELL NICKEL JAN @ 846 SL 852 TGT 844.50-840.20-836-834.80.MCX