Nickel yesterday hit one-week high of 1062.50 after European Union agrees bailout plan for debt-ridden Greece. Nickel has touched a low of Rs 1023.3 a kg after opening at Rs.1023.3, and last traded at Rs 1032.4.For today market is looking for the support at 1016.3, a break below could see a test of 1000.2 and where as resistance is now likely to be seen at 1055.5, a move above could see prices testing 1078.6.

Trading Ideas:

Nickel trading range is 1000.2-1078.6.

Nickel yesterday hit one-week high after EU agrees bailout plan for debt-ridden Greece

Nickel is getting support at 1026.80 and resistance is at 1039.20

Jinchuan Group cut ex-works nickel prices by RMB 9,000/mt on May 10th.

BUY NICKEL MAY ABV 1035 SL 1028 TGT 1038-1042-1048.MCX