Nickel's slide accelerated after it broke below the 200-day moving average. Nickel’s poor close, along with those by the other metals, leave them technically weak. Nickel has touched a low of Rs 852.1 a kg after opening at Rs.855, and last traded at Rs 855.7.For today market is looking for the support at 852.8, a break below could see a test of 849.8 and where as resistance is now likely to be seen at 858, a move above could see prices testing 860.2.

Trading Ideas:

Nickel trading range is 849.8-860.2.

Nickel's slide accelerated after it broke below the 200-day moving average

Nickel is getting support at 848.20 and resistance is at 861.80

Spread between nickel JUN & JUL contracts yesterday traded in the range of 2.00 - 3.3.

SELL NICKEL JUNE BELOW 840 SL 866 TGT 828-816-805.MCX