Nickel prices must rise by at least 5 percent for a sustained period to prompt miners to restart more capacity idled by the global economic slowdown. Nickel has touched a low of Rs 970.3 a kg after opening at Rs.1015.8, and last traded at Rs 974.6.For today market is looking for the support at 956.8, a break below could see a test of 939 and where as resistance is now likely to be seen at 1005.9, a move above could see prices testing 1037.2.

Trading Ideas:

Nickel trading range is 939-1037.2.

Nickel firms could restart at $25,000/T: Norilsk

Nickel is getting support at 968.10 and resistance is at 979.80.

Spread between nickel MAR & APR contracts yesterday traded in the range of 1.40-5.80.