Nickel ended up on hopes of higher demand after positive manufacturing data from U.S., China. Firm equity markets and a buildup of fresh positions at the start of the month will continue to support prices. Nickel has touched a low of Rs 995.2 a kg after opening at Rs.997.3, and last traded at Rs 1016.5.For today market is looking for the support at 1001.3, a break below could see a test of 986 and where as resistance is now likely to be seen at 1025.7, a move above could see prices testing 1034.8.

Trading Ideas:

Nickel trading range is 986-1034.8.

Nickel yesterday ended higher on hopes of higher demand

Nickel is getting support at 1009.80 and resistance is at 1025.70.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 7.50 - 9.7.