Nickel ended higher tracking firm demand from stainless steel industries and chart-based buying. Nickel has touched a low of Rs 981 a kg after opening at Rs.981, and last traded at Rs 1007.5.For today market is looking for the support at 988.5, a break below could see a test of 969.6 and where as resistance is now likely to be seen at 1018.9, a move above could see prices testing 1030.4.

Trading Ideas:

Nickel trading range is 969.6-1030.4.

Nickel ended higher tracking firm demand from stainless steel industries

Nickel is getting support at 1001.80 and resistance is at 1012.40.

Spread between nickel AUG & SEP contracts yesterday traded in the range of 6.30 - 8.5.