Nickel was hit particularly hard to news that Vale SA has resumed arbitrated talks with striking workers at its nickel operations in Ontario, Canada.  Nickel has touched a low of Rs 968.4 a kg after opening at Rs.1100.6, and last traded at Rs 1010.5.For today market is looking for the support at 952.4, a break below could see a test of 894.3 and where as resistance is now likely to be seen at 1084.6, a move above could see prices testing 1158.7.

Trading Ideas:

Nickel trading range is 894.3-1158.7.

Vale has resumed talks with striking Sudbury union

Nickel is getting support at 1003.80 and resistance is at 1017.20

Jinchuan Group cut ex-works nickel prices by RMB 10,000/mt on May 5th.

BUY NICKEL MAY ABV 1014 SL 1008 TGT 1018-1026-1034.MCX