U.S. nickel exports fell 15.4% in March from the previous month, but was up 143.2% from the previous year, the Commerce Department reported. Nickel has touched a low of Rs 969.6 a kg after opening at Rs.979, and last traded at Rs 972.6.For today market is looking for the support at 967.2, a break below could see a test of 961.8 and where as resistance is now likely to be seen at 980.4, a move above could see prices testing 988.2.

Trading Ideas:

Nickel trading range is 961.8-988.2.

US Mar nickel exports -15.4% from Feb, +143.2% from year ago

Nickel is getting support at 966.80 and resistance is at 978.20

Spread between nickel MAY & JUN contracts yesterday traded in range of 4.20 - 5.4.

SELL NICKEL MAY @ 970 SL 986 TGT 962-954-940.MCX