Nickel output at Norilsk Nickel enterprises grew by 102.8% as compared to the corresponding period of 2009. Nickel has touched a low of Rs 977 a kg after opening at Rs.1001.5, and last traded at Rs 980.5.For today market is looking for the support at 971.2, a break below could see a test of 961.8 and where as resistance is now likely to be seen at 995.7, a move above could see prices testing 1010.8.

Trading Ideas:

Nickel trading range is 961.8-1010.8.

Nickel output at Norilsk Nickel enterprises grew by 102.8%

Nickel is getting support at 971.20 and resistance is at 997.20.

Spread between nickel SEP & OCT contracts yesterday traded in the range of -8.80 - 8.6.