China's real nickel consumption growth will slow to between 2 to 4 percent next year, from 12 percent this year, as demand from an oversupplied stainless steel sector slows. Nickel has touched a low of Rs
1060.7 a kg after opening at Rs. 1071.5, and last traded at Rs 1095.6. For today market is looking for the support at 1071.9, a break below could see a test of 1048.1 and where as resistance is now likely to be seen at 1108.2, a move above could see prices testing 1120.7.

Trading Ideas:

Nickel trading range is 1048.1-1120.7.

China nickel demand growth to slow sharply in 2011

Nickel is having resistance at 1108.20 and support at 1082.30 level.

Spread between nickel DEC & JAN contracts yesterday traded in the range of 4.90 - 9.7.