Russia's Nickel output increased by 6.4%, and nickel ore output increased by 12.3%. Nickel has touched a low of Rs 1006.9 a kg after opening at Rs.1014.8, and last traded at Rs 1039.1.For today market is looking for the support at 1017, a break below could see a test of 995 and where as resistance is now likely to be seen at 1051, a move above could see prices testing 1063.

Trading Ideas:

Nickel trading range is 995-1063.

Russia's nickel output increased by 6.4%

Nickel is getting support at 1033.60 and resistance is at 1044.80

Spread between nickel MAY & JUN contracts yesterday traded in the range of 0.60 - 3.1.

NICKEL WAIT FOR FRESH ENTRY IN NICKEL OVERALL ABV 1000 MARK LOOK TILL 1045 LEVEL.