Brazilian mining company Vale SA said that it plans to restart 50% of its nickel smelter capacity at its Sudbury, Ontario, operation by the end of January, despite the ongoing strike at the company's Canadian operations. Nickel has touched a low of Rs 816.8 a kg after opening at Rs.834.7, and last traded at Rs 824.For today market is looking for the support at 813.2, a break below could see a test of 802.4 and where as resistance is now likely to be seen at 838.4, a move above could see prices testing 852.8.

Trading Ideas:

Nickel trading range is 810-840.

Brazilian mining company Vale SA said it plans to restart 50% of its nickel smelter capacity

Support for nickel is seen at 816.80 and resistance at 828.60 level.

Spread between Nickel JAN & FEB contracts ended at 5.50.

SELL NICKEL JAN BELOW 820 SL 828 TGT 818.60-814.50-811.20-808.MCX