Russia exported in January-May 92,600 metric tons of nickel, 1.54% more than in the same months of 2009, when 91,200 tons were exported, the federal customs service reported. Nickel has touched a low of Rs 904 a kg after opening at Rs.905, and last traded at Rs 910.4.For today market is looking for the support at 904.9, a break below could see a test of 899.3 and where as resistance is now likely to be seen at 915.1, a move above could see prices testing 919.7.

Trading Ideas:

Nickel trading range is 899.3-919.7.

Russia exported in January-May 92,600 metric tons of nickel

Nickel is getting support at 904.90 and resistance is at 915.10

Spread between nickel JUL & AUG contracts yesterday traded in the range of 4.90 - 6.5.

BUY NICKEL @ 914 SL 907 TGT 918-921.50-927.MCX