U.S. nickel imports fell 3.8% in November from last month, but was up 15.8% from the previous year, the Commerce Department reported. Nickel has touched a low of Rs 795.5 a kg after opening at Rs.808.2, and last traded at Rs 831.3.For today market is looking for the support at 805.90, a break below could see a test of 780.60 and where as resistance is now likely to be seen at 846.10, a move above could see prices testing 861.00.

Trading Ideas:

Nickel trading range is 815-845.

U.S. nickel imports fell 3.8% in November from last month

Support for nickel is seen at 827.80 and resistance at 835.60 level.

Jinchuan Group cut nickel ex-works prices by RMB 4,000/mt to RMB 139,000/mt on January 13th.

SELL NICKEL JAN @ 840-842 SL 848.90 TGT 836-832.20-828-822.MCX