Nickel scrap exports of 3,990 short tons marked the highest quantity since August 2008, when the economic downturn was just beginning. Nickel has touched a low of Rs 915.9 a kg after opening at Rs.945.5, and last traded at Rs 927.For today market is looking for the support at 911.3, a break below could see a test of 895.5 and where as resistance is now likely to be seen at 947.4, a move above could see prices testing 967.7.

Trading Ideas:

Nickel trading range is 895.5-967.7.

US Nickel scrap exports at 20-month high

Nickel is getting support at 922.20 and resistance is at 933.80

Yesterday we have seen that open interest rose by 2192 and volume by 14765

SELL NICKEL JUNE @ 925-928 SL 935 TGT 920-914-908.MCX