Jinchuan Group Ltd. plans to expand its nickel output through overseas acquisitions. China's largest nickel producer producer by output will increase its nickel production to 200,000 metric tons by 2015 from 130,000 tons last year. Nickel has touched a low of Rs 1032.1 a kg after opening at Rs.1032.2, and last traded at Rs 1064.1.For today market is looking for the support at 1041.6, a break below could see a test of 1019.1 and where as resistance is now likely to be seen at 1077.1, a move above could see prices testing 1090.1.

Trading Ideas:

Nickel trading range is 1019.1-1090.1.

Jinchuan to expand nickel output by overseas purchases

Nickel is getting support at 1056.20 and resistance is at 1072.80.

Yesterday we have seen open interest rose by 2528 and volume by 9610 lots