Nickel yesterday traded with the negative node and settled -0.68% down at 1193. Some support had been seen from the LME stock also which came up by -528mt, the total stock at LME is now at 149946mt. In yesterday's trading session nickel has touched the low of 1190.7 after opening at 1203.2, and finally settled at 1193. For today's session market is looking to take support at 1180.9, a break below could see a test of 1168.8 and where as resistance is now likely to be seen at 1214.9, a move above could see prices testing 1236.8.

Trading Ideas:

Nickel trading range is 1168.8-1236.8.

Nickel dipped yesterday after a strong rally on profit booking.

Nickel is getting support at 1180 and resistance is at 1214

Earthquake in Western Australia has no significant impact on nickel output in the area.

BUY NICKEL APR ABV 1196 SL 1188 TGT 1204-1212-1218.MCX