Nickel mine production was 790,000 tons, down 1.1% from the same period last year. World apparent nickel demand was 105,000 tons higher than the previous year, the WBMS said without providing a figure. Nickel has touched a low of Rs 1068.6 a kg after opening at Rs.1072, and last traded at Rs 1072.3.For today market is looking for the support at 1069.4, a break below could see a test of 1066.5 and where as resistance is now likely to be seen at 1074.4, a move above could see prices testing 1076.5.

Trading Ideas:

Nickel trading range is 1066.5-1076.5.

Nickel mine production was 790,000 tons, down 1.1% from the same period last year – WBMS

Nickel is getting support at 1063.80 and resistance is at 1079.50.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 4.70 - 7.8.