Nickel ended higher due to short-covering ahead of expiry. Renewed concerns about global economic growth, fears over slowdown in China may weigh on metals. Nickel has touched a low of Rs 890.7 a kg after opening at Rs.906.3, and last traded at Rs 920.2.For today market is looking for the support at 899.1, a break below could see a test of 878.1 and where as resistance is now likely to be seen at 932.8, a move above could see prices testing 945.5.

Trading Ideas:

Nickel trading range is 878.1-945.5.

Nickel ended higher due to short-covering ahead of expiry

Nickel is getting support at 914.80 and resistance is at 926.20

Spread between nickel JUL & AUG contracts yesterday traded in the range of 5.50 - 8.9.

SELL NICKEL JULY @ 920-924 SL 930 TGT 914.50-910.20-906.MCX