Nickel traded rangebound for most of session as LME shut yesterday for public holiday. Nickel has touched a low of Rs 1155.3 a kg after opening at Rs.1169.1, and last traded at Rs 1171.7.For today market is looking for the support at 1158.6, a break below could see a test of 1145.4 and where as resistance is now likely to be seen at 1181.6, a move above could see prices testing 1191.4.

Trading Ideas:

Nickel trading range is 1145.4-1191.4.

Nickel traded range bound for most of session as LME shut

Nickel is getting support at 1164.80 and resistance is at 1177.60

Spread between nickel JUNE & JUN contacts yesterday traded in the range of -1.00 - 0.7.

BUY NICKEL MAY @ 1140-1145 SL 1134 TGT 1152-1160-1168.MCX