India's nickel imports in 2010-11 are likely to rise 12.5% on year to 45,000 metric tons on the back of an increase in demand for nickel-coated stainless steel. Nickel has touched a low of Rs 958.1 a kg after opening at Rs.971.3, and last traded at Rs 971.3.For today market is looking for the support at 961.4, a break below could see a test of 951.6 and where as resistance is now likely to be seen at 977.8, a move above could see prices testing 984.4.

Trading Ideas:

Nickel trading range is 951.6-984.4.

India's nickel imports in 2010-11 are likely to rise 12.5% on year to 45,000 metric tons

Nickel is getting support at 966.80 and resistance is at 977.40.

U.S. nickel exports fell 8.0% in January from the previous month

SELL NICKEL MAR ON JUMP@ 985-988 SL 996 TGT 981-978.50-974.80-968.MCX (LOW QUANTITY)