Nickel ended firm supported by pick up in demand at the spot markets and firming trend overseas. Firm trend in the entire base metals pack in global markets after a weak dollar boosted demand for the raw material also supported the prices. Nickel has touched a low of Rs 1013.8 a kg after opening at Rs.1029.8, and last traded at Rs 1032.3.For today market is looking for the support at 1018.5, a break below could see a test of 1004.7 and where as resistance is now likely to be seen at 1041.4, a move above could see prices testing 1050.5.

Trading Ideas:

Nickel trading range is 1004.7-1050.5.

Nickel ended firm supported by pick up in demand and firming trend overseas

Nickel is getting support at 1026.20 and resistance is at 1041.40.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 7.90 - 10.7.