The global refined nickel market was in a 15,000-metric-ton deficit in January to October, the World Bureau of Metal Statistics said. The estimate includes substantial imports in China, some of which are being stockpiled and more than compensate for the deficit in the rest of the world, the WBMS said.

Nickel has touched a low of Rs 790.1 a kg after opening at Rs.792, and last traded at Rs 810.5.For today market is looking for the support at 796.50, a break below could see a test of 782.50 and where as resistance is now likely to be seen at 818.00, a move above could see prices testing 825.50.

Trading Ideas:

NICKEL TRADING RANGE IS 790-830.

THE GLOBAL REFINED NICKEL MARKET WAS IN A 15,000-METRIC-TON DEFICIT IN

AS PER EXPECTATION NICKEL ABOVE 790 LEVEL JUMPED TILL 808-812 LEVEL.

SELL NICKEL DEC BELOW 808 SL 812 TGT 803.80-801-796.50.MCX

RESISTANCE FOR NICKEL IS AT 815.20 AND SUPPORT IS AT 805.40.