China's nickel demand has fallen in the past month since power cuts in some provinces slowed operations at stainless steel mills, the biggest user of the commodity. Nickel has touched a low of Rs 1068.2 a kg after opening at Rs. 1068.2, and last traded at Rs 1072.6. For today market is looking for the support at 1063.9, a break below could see a test of 1055.2 and where as resistance is now likely to be seen at 1085.6, a move above could see prices testing 1098.6.

Trading Ideas:

Nickel trading range is 1055.2-1098.6.

China nickel demand falls on power cuts

Nickel is having resistance at 1085.60 and support at 1063.90 level.

Spread between nickel DEC & JAN contracts yesterday traded in the range of 9.30 - 14.7.