Anglo-Swiss miner Xstrata PLC said that union members at its Sudbury, Canada nickel operation ratified a new three-year contract, avoiding a strike at the operation. Nickel has touched a low of Rs 833.3 a kg after opening at Rs.848.2, and last traded at Rs 842.3.For today market is looking for the support at 832.1, a break below could see a test of 821.9 and where as resistance is now likely to be seen at 853.7, a move above could see prices testing 865.1.

Trading Ideas:

Nickel trading range is 825-860.

Xstrata nickel union ratify new 3-year contract at Sudbury to avoid strike

European nickel to buy Rusina mining

Nickel is getting resistance at 846.20 and support at 837.80.

SELL NICKEL FEB @ 850-852 SL 858.50 TGT 846.20-843.40-840.80-836.MCX