There appeared to be hope on the picket lines this week that negotiations that restarted on Friday between Brazil's Vale and the union representing its Sudbury workers would be successful in getting miners back to the rockface. Nickel has touched a low of Rs 844.3 a kg after opening at Rs.870.7, and last traded at Rs 869.3.For today market is looking for the support at 850.5, a break below could see a test of 831.7 and where as resistance is now likely to be seen at 881.9, a move above could see prices testing 894.5.

Trading Ideas:

Nickel trading range is 831.7-894.5.

Vale strikers say hoping for progress in latest round of Sudbury talks

Nickel is getting support at 862.20 and resistance is at 875.80

Yesterday we have seen that open interest rose by 1449 and volume fell by 6755

NICKEL LOOK TO TRADE IN THE RANGE 840-880. WAIT FOR ENTRY.