BHP Billiton Ltd., the world's largest mining company, aims to raise as much as $500 million selling its shuttered Ravensthorpe nickel mine in Western Australia. BHP closed the $2.2 billion Ravensthorpe mine this year after the price of nickel plunged.

Nickel has touched a low of Rs 774.5 a kg after opening at Rs. 780.3, and last traded at Rs 786.7. For today market is looking for the support at 777.8, a break below could see a test of 768.9 and where as resistance is now likely to be seen at 792.3, a move above could see prices testing 797.9.

Trading Ideas:

NICKEL TRADING RANGE IS 760-805.

BHP SAID TO SEEK $500 MILLION FOR RAVENSTHORPE NICKEL MINE

HOLD / ADD NICKEL NOV @ 778-781 SL 770 TGT 784.50-789.20-792.50-796. MCX

OVERALL MARKET ABOVE 775 MARK LOOKS BULLISH TILL 800 LEVEL.

RESISTANCE FOR NICKEL IS AT 792.30 ABV THIS NEXT RESIST IS AT 797.90-802.60.