Russia exported in January 17,000 metric tons of nickel, a rise of 21.4% on the year, the federal customs service said Friday. The nickel exported in January was worth $304.8 million, compared with $152 million a year ago. Nickel has touched a low of Rs 1018.6 a kg after opening at Rs.1018.6, and last traded at Rs 1021.6.For today market is looking for the support at 1019.2, a break below could see a test of 1016.8 and where as resistance is now likely to be seen at 1023.4, a move above could see prices testing 1023.4, a move above could see prices testing 1025.2.

Trading Ideas:

Nickel trading range is 1016.8-1025.2.

Nickel yesterday ended down on profit booking by traders

Nickel is getting support at 1014.80 and resistance is at 1025.80.

Spread between nickel MAR & APR contracts traded in the range of 2.80 - 5.7.

BUY NICKEL MAR ABV 1024 SL 1016 TGT 1032-1040-1052.MCX