BHP Billiton said that a shortage of nitrogen gas has interrupted production at its Kwinana nickel refinery in Western Australia. Nickel has touched a low of Rs 1130.6 a kg after opening at Rs. 1134, and last traded at Rs 1132.1. For today market is looking for the support at 1130.4, a break below could see a test of 1128.6 and where as resistance is now likely to be seen at 1134.1, a move above could see prices testing 1136.

Trading Ideas:

Nickel trading range is 1128.6-1136.

BHP Billiton said that shortage of nitrogen gas has interrupted production at its Kwinana nickel refinery

Nickel is having resistance at 1138.10 and support at 1123.40 level.

Spread between nickel DEC & JAN contracts traded in the range of 6.00 - 6.8.