Nickel ended down tracking selloff in global stock markets due to concerns over economic health of euro zone countries, worries about growing tension in Korean peninsula. Nickel has touched a low of Rs 989.2 a kg after opening at Rs.1039, and last traded at Rs 1009.9.For today market is looking for the support at 986.4, a break below could see a test of 962.9 and where as resistance is now likely to be seen at 1036.2, a move above could see prices testing 1062.5.

Trading Ideas:

Nickel trading range is 962.9-1062.5.

Nickel ended down tracking selloff in global stock markets due to concerns over economic health

Nickel is getting support at 1002.80 and resistance is at 1015.20

Jinchuan Group raised ex-works nickel prices by RMB 2,000/mt

WAIT FOR FRESH ENTRY IN NICKEL OVERALL ABV 1000 MARK LOOK TILL 1045 LEVEL.