Vale Inco and the United Steelworkers Union will meet May 25-26 to try and bring an end to the strikes at the primarily nickel operations in Newfoundland and Labrador, Canada, Vale said. Nickel has touched a low of Rs 1002.5 a kg after opening at Rs.1006, and last traded at Rs 1011.4.For today market is looking for the support at 1005.3, a break below could see a test of 999.1 and where as resistance is now likely to be seen at 1014.8, a move above could see prices testing 1018.1.

Trading Ideas:

Nickel trading range is 999.1-1018.1.

Vale Inco, union to hold new strike talks may 25-26

Nickel is getting support at 1006.60 and resistance is at 1017.20

Spread between nickel MAY & JUN contracts yesterday traded in the range of 1.10 - 3.5.

BUY NICKEL MAY ABV 1010 SL 1000 TGT 1015-1022-1028.MCX