Jinchuan Group Co., China's largest nickel and cobalt producer, has raised its refined nickel price by CNY2,000 ($443) to CNY158,000 a metric ton. Nickel has touched a low of Rs 948 a kg after opening at Rs.969.2, and last traded at Rs 958.For today market is looking for the support at 945.1, a break below could see a test of 932.3 and where as resistance is now likely to be seen at 973.7, a move above could see prices testing 989.5.

Trading Ideas:

Nickel trading range is 932.3-989.5.

Jinchuan Group Co has raised its refined nickel price by CNY2,000

Nickel is getting support at 952.20 and resistance is at 964.80

Spread between nickel JUL & AUG contracts yesterday traded in the range of 3.80 - 9.3.