Nickel ended positive on Saturday on chart based buying. Some support had been seen from the LME stock also which came down by -156mt, the total stock at LME is now at 120354mt. Nickel has touched a low of Rs 1018 a kg after opening at Rs. 1018, and last traded at Rs 1020.8. For today market is looking for the support at 1018.5, a break below could see a test of 1016.3 and where as resistance is now likely to be seen at 1022.5, a move above could see prices testing 1024.3.

Trading Ideas:

Nickel trading range is 1016.3-1024.3.

Nickel ended positive on Saturday on chart based buying

Nickel is getting support at 1016.80 and resistance is at 1028.60.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 7.80 - 9.9.