Nickel ended positive supported by a firming trend overseas and a pick-up in domestic spot demand. Strong demand from alloy makers in the spot market also influenced nickel prices. Nickel has touched a low of Rs 1064 a kg after opening at Rs.1070, and last traded at Rs 1074.9.For today market is looking for the support at 1066.7, a break below could see a test of 1058.4 and where as resistance is now likely to be seen at 1080.5, a move above could see prices testing 1086.

Trading Ideas:

Nickel trading range is 1058.4-1086.

Nickel ended positive supported by a firming trend overseas and pick-up in domestic spot demand

Nickel is having resistance at 1080.5 and support at 1066.7 level.

Spread between nickel OCT & NOV contracts yesterday ended at 6.90.