BHP Billiton Ltd. said its Kwinana nickel refinery in Western Australia State has resumed normal operations after closing down on March 15 due to a lack of hydrogen gas. Nickel has touched a low of Rs 1067 a kg after opening at Rs.1074.6, and last traded at Rs 1073.5.For today market is looking for the support at 1057, a break below could see a test of 1040.5 and where as resistance is now likely to be seen at 1100, a move above could see prices testing 1126.5.

Trading Ideas:

Nickel trading range is 1065.2-1080.

BHP Billiton says Kwinana nickel refinery resumes operation

Nickel is getting support at 1066.80 and resistance is at 1079.30.

Spread between nickel MAR & APR contracts yesterday traded in the range of 1.00 - 5.4.

BUY NICKEL MAR @ 1070 SL 1064 TGT 1075.50-1080-1088.MCX