Russia's OAO Norilsk Nickel the world's largest nickel producer by production volumes, said its production outlook for 2010 will not be affected by Finnish nickel miner Talvivaara Mining Co. cutting its production targets for the year. Nickel has touched a low of Rs 1010.6 a kg after opening at Rs.1019.1, and last traded at Rs 1016.6.For today market is looking for the support at 1011.5, a break below could see a test of 1006.4 and where as resistance is now likely to be seen at 1020.8, a move above could see prices testing 1025.

Trading Ideas:

Nickel trading range is 1006.4-1025.

Russia's OAO Norilsk Nickel said its production outlook for 2010 will not be affected

Nickel is getting support at 1010.20 and resistance is at 1022.80

Spread between nickel MAY & JUN contracts yesterday traded in the range of -2.10 - 3.4.

BUY NICKEL MAY ABV 1022 SL 1010 TGT 1028-1036-1045.MCX