U.S. nickel exports fell 9.5% in September from the previous month, and was down 67.8% from the previous year, the Commerce Department reported. Nickel has touched a low of Rs 1013.4 a kg after opening at Rs.1019.4, and last traded at Rs 1024.6.For today market is looking for the support at 1016.7, a break below could see a test of 1008.7 and where as resistance is now likely to be seen at 1029.3, a move above could see prices testing 1033.9.

Trading Ideas:

Nickel trading range is 1008.7-1033.9.

US Sep Nickel exports -9.5% from Aug, -67.8% from yr ago

Nickel is having resistance at 1030.40 and support at 1016.70 level.

Spread between nickel NOV & DEC contracts yesterday traded in the range of 11.60 - 14.9.