The world refined nickel market was in a 5, 000-metric-ton deficit in the first five months of the year, the World Bureau of Metal Statistics said.  This compares with a surplus of 48,600 tons during the year-earlier period, the WBMS said.  Nickel has touched a low of Rs 903.1 a kg after opening at Rs.903.5, and last traded at Rs 917.9.

For today market is looking for the support at 906.3, a break below could see a test of 894.8 and where as resistance is now likely to be seen at 926.2, a move above could see prices testing 934.6.

Trading Ideas:

Nickel trading range is 894.8-934.6.

World refined nickel market was in a 5, 000-metric-ton deficit – WBMS

Nickel is getting support at 912.20 and resistance is at 923.40

Spread between nickel JUL & AUG contracts yesterday traded in the range of 6.60 - 7.6.

SELL NICKEL @ 920-922 SL 928.50 TGT 914.50-909-906.MCX