Russia exported 72,100 metric tons of nickel in January-April, a fall of 1.25% on the year, when 73,000 tons was exported, the federal customs service reports.  The exported nickel was worth $1.52 billion, compared with $764.6 million a year ago. Nickel has touched a low of Rs 860.4 a kg after opening at Rs.869, and last traded at Rs 897.1.For today market is looking for the support at 868, a break below could see a test of 838.9 and where as resistance is now likely to be seen at 918.6, a move above could see prices testing 940.1.

Trading Ideas:

Nickel trading range is 838.9-940.1.

Russia exported 72,100 metric tons of nickel in January-April

Nickel is getting support at 891.80 and resistance is at 905.20

Spread between nickel JUN & JUL contracts yesterday traded in the range of 1 - 3.

SELL NICKEL JUNE BELOW 894 SL 904 TGT 886-882.50-874.MCX