Russia's nickel output increased by 5.4% on the year in January-July while output in July increased by 4.7% compared with June this year. Nickel has touched a low of Rs 940.7 a kg after opening at Rs.965, and last traded at Rs 952.1.For today market is looking for the support at 939.2, a break below could see a test of 926.3 and where as resistance is now likely to be seen at 966.5, a move above could see prices testing 980.9.

Trading Ideas:

Nickel trading range is 926.3-980.9.

Russia's nickel output increased by 5.4% on the year in January-July

Nickel is getting support at 946.40 and resistance is at 958.10.

Spread between nickel AUG & SEP contracts yesterday traded in the range of 7 - 9.3.