Nickel yesterday traded with the positive node and settled 0.34% up at 1294.1. Some support had been seen from the LME stock also which came up by -702mt, the total stock at LME is now at 132798mt. The
30,000-tonnes-per-year QNI nickel refinery remained shut after the brunt of the cyclone slammed into the coastline overnight packing winds forecast up to 300 km (186 miles) an hour near its core.

Nickel has touched a low of Rs 1289.2 a kg after opening at Rs. 1290.9, and last traded at Rs 1294.1. For today market is looking for the support at 1290.3, a break below could see a test of 1286.5 and where as resistance is now likely to be seen at 1296.8, a move above could see prices testing 1299.5. Trading Ideas: Nickel trading range is 1286.5-1299.5.

The 30,000-tonnes-per-year QNI nickel refinery remained shut after the brunt of the cyclone Nickel looks to take support at 1280 and resistance is at 1308 level Spread between nickel FEB & MAR contracts yesterday traded in the range of 4.10 - 5.3.