Nickel yesterday traded with the positive node and settled 1.46% up at 821.4. Some support had been seen from the LME stock also which came up by -288mt, the total stock at LME is now at 166188mt. In yesterday's trading session nickel has touched the low of 807 after opening at 812, and finally settled at 821.4. For today's session market is looking to take support at 809.6, a break below could see a test of 797.8 and where as resistance is now likely to be seen at 830.6, a move above could see prices testing 839.8.

Trading Ideas:

Nickel trading range is 797.8-839.8.

Nickel yesterday traded with the negative node and settled -1.06% down at 809.4

Imported nickel in Shanghai market were between 200-300mt, with supply still considered tight in the market.

Nickels prices are likely to get support at 800 level and resistance is at 834 level.

OVERALL BELOW 834 LOOK TO TAKE SUPPORT AT 804 LEVEL.