Vale said that it had partially halted commissioning work at its already delayed Goro nickel operation in New Caledonia following an acid spill. Nickel has touched a low of Rs 1134.4 a kg after opening at Rs.1201, and last traded at Rs 1143.7.For today market is looking for the support at 1118.4, a break below could see a test of 1093.1 and where as resistance is now likely to be seen at 1185, a move above could see prices testing 1226.3.

Trading Ideas:

Nickel trading range is 1093.1-1226.3.

Goro start-up partly stopped after acid spill - Vale

Nickel is getting support at 1137.20 and resistance is at 1149.60

Spread between nickel APR & MAY contracts yesterday traded in the range of 1.00 - 2.2.

YESTERDAY LME STOCK FOR NICKEL CAME DOWN  BY -264

SELL NICKEL APR @ 1150 SL 1164 TGT 1142-1134.50-1126.MCX