Brazilian miner Vale SA and the United Steelworkers union have reached a deal to end an 11-month strike at Vale's nickel operations in Sudbury and Port Colborne. Nickel has touched a low of Rs 881.5 a kg after opening at Rs.896.4, and last traded at Rs 884.6.For today market is looking for the support at 876.1, a break below could see a test of 867.5 and where as resistance is now likely to be seen at 898.6, a move above could see prices testing 912.5.

Trading Ideas:

Nickel trading range is 867.5-912.5.

Vale says deal reached with striking Ontario miners

Nickel is getting support at 876.80 and resistance is at 890.20

Spread between nickel JUL & AUG contracts yesterday traded in the range of 5.50 - 9.6.

BUY NICKEL JULY @ 885 SL 875 TGT 890-896.50-902.MCX