Nickel finished strongly after rallying on what traders said was technical buying, since technical indicators appear to be bullish. Nickel has touched a low of Rs 1021.8 a kg after opening at Rs.1023.1, and last traded at Rs 1053.3.For today market is looking for the support at 1031.5, a break below could see a test of 1009.7 and where as resistance is now likely to be seen at 1065.4, a move above could see prices testing 1077.5.

Trading Ideas:

Nickel trading range is 1009.7-1077.5.

Nickel finished strongly after rallying on technical buying

Nickel is getting support at 1048 and resistance is at 1060.

Spread between nickel AUG & SEP contracts yesterday traded in the range of 5.80 - 9.9.