Russia exported 132,000 metric tons of nickel in January to July, 1.3% less than in January-July 2009, the federal customs service reported. Nickel has touched a low of Rs 1041.1 a kg after opening at Rs.1057, and last traded at Rs 1043.6.For today market is looking for the support at 1034, a break below could see a test of 1024.5 and where as resistance is now likely to be seen at 1060.2, a move above could see prices testing 1076.9.

Trading Ideas:

Nickel trading range is 1024.5-1076.9.

Russia Jan-July nickel exports -1.3% on year at 132,000 tons

Nickel is getting support at 1037.20 and resistance is at 1049.80.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 7.00 - 9.