Minara Resources Ltd., Australia's second-largest nickel producer, reported second-quarter production dropped 15 percent after a pipeline failure at the Murrin Murrin plant in Western Australia. Nickel has touched a low of Rs 894.1 a kg after opening at Rs.898, and last traded at Rs 912.3.For today market is looking for the support at 899.5, a break below could see a test of 886.8 and where as resistance is now likely to be seen at 919.6, a move above could see prices testing 927.

Trading Ideas:

Nickel trading range is 886.8-927.

Minara Resources Ltd., reported second-quarter production dropped 15 percent

Nickel is getting support at 906.40 and resistance is at 919.60

Yesterday we have seen that open interest fell by 2116 and volume rose by 14998 lots