Australian nickel producer Mincor Resources NL has restarted production at its Miitel ore body. Miitel was closed in December 2008 after nickel prices crashed in the aftermath of the global financial crisis. Nickel has touched a low of Rs 1007.7 a kg after opening at Rs.1009, and last traded at Rs 1013.For today market is looking for the support at 1006, a break below could see a test of 999 and where as resistance is now likely to be seen at 1021.7, a move above could see prices testing 1030.4.

Trading Ideas:

Nickel trading range is 999-1030.4.

Mincor restarts production at Miitel nickel ore body

Nickel is getting support at 1006 and resistance is at 1021.70.

Spread between nickel AUG & SEP contracts yesterday traded in the range of 6.30 - 8.8.