Commodity Outlook for Nickel by KediaCommodity
BHP Billiton Ltd., the world's biggest mining company, said production from the Nickel West Leinster operations in Western Australia had been restored after a partial closure because of an April 11 fatality. Nickel has touched a low of Rs 1090 a kg after opening at Rs.1168.5, and last traded at Rs 1100.5.For today market is looking for the support at 1067.8, a break below could see a test of 1035.2 and where as resistance is now likely to be seen at 1155.3, a move above could see prices testing 1210.2.
Trading Ideas:
Nickel trading range is 1035.2-1210.2.
BHP says Leinster nickel operations back to 'Normal'
Nickel is getting support at 1094.20 and resistance is at 1106.80
Nickel look to hold a imp support level at 1080 and some bounce till 1120 can be seen today.
BUY NICKEL MAY @ 1102 SL 1096 TGT 1108-1114-1120.MCX