LCH. Clearnet, which clears trades for the London Metal Exchange, will lower initial margins on contracts for nickel. Nickel initial margins will be dropped to $2,100/ton from $2,200/ton and the primary nickel swap to $2,100/ton also from $2,200/ton. Nickel has touched a low of Rs 781 a kg after opening at Rs. 782.8, and last traded at Rs 784.8. For today market is looking for the support at 781.80 a break below could see a test of 778.90 and where as resistance is now likely to be seen at 786.80, a move above could see prices testing 788.90.

Trading Ideas:

NICKEL TRADING RANGE IS 750-920.

LCH. CLEARNET WHICH CLEARS TRADES FOR THE LME, WILL LOWER INITIAL MARGINS FOR NICKEL

HOLD / ADD NICKEL NOV @ 785-787 SL 778 TGT 790-794.50-798.80-803.MCX (5-6DAYS)

NICKEL IS GETTING SUPPORT AT 778.20 BELOW THIS NEXT SUP IS AT 774.60-770.80.

SPREAD BETWEEN NICKEL NOV & DEC CONTRACTS ON SATURDAY ENDED AT 3.90