Australia's second biggest nickel miner, Minara Resources , will resume normal nickel production this week following repairs to its Murrin Murrin mine. A pipeline failure in a key operating circuit in late May meant production had dropped to a reduced rate, with year-to-date output tracking at the lower end of Minara's annual target of between 30,000 and 34,000 tonnes. Nickel has touched a low of Rs 919.6 a kg after opening at Rs.921, and last traded at Rs 937.9.For today market is looking for the support at 924, a break below could see a test of 910.2 and where as resistance is now likely to be seen at 947.3, a move above could see prices testing 956.8.

Trading Ideas:

Nickel trading range is 910.2-956.8.

Minara to resume normal nickel output this week

Nickel is getting support at 932.20 and resistance is at 944.80

U.S. nickel imports fell 11.5% in April from last month

BUY NICKEL JUNE @ 915 SL 908 TGT 922-930-936.MCX