One of Western Australia's biggest nickel mines, that was placed in care and maintenance in 2008, will reopen in July. Mincor's Miitel nickel mine, at Kambalda in WA's Goldfields region, was shut down due to plunging nickel prices during the global financial crisis. Nickel has touched a low of Rs 1008.1 a kg after opening at Rs.1015.1, and last traded at Rs 1025.6.For today market is looking for the support at 1008.5, a break below could see a test of 991.5 and where as resistance is now likely to be seen at 1042.2, a move above could see prices testing 1058.9.

Trading Ideas:

Nickel trading range is 991.5-1058.9.

Nickel mine to reopen as prices recover

Nickel is getting support at 1021.60 and resistance is at 1030.20

Russia Jan-Mar nickel exports stable on year at 51,000 tons

SELL NICKEL MAY @ 1025 SL 1032 TGT 1018-1012-1006.MCX