U.S. nickel exports rose 6.1% in July from the previous month, and was up 160.7% from the previous year, the Commerce Department reported. Nickel has touched a low of Rs 1046 a kg after opening at Rs.1046, and last traded at Rs 1065.8.For today market is looking for the support at 1049.6, a break below could see a test of 1033.4 and where as resistance is now likely to be seen at 1078.4, a move above could see prices testing 1091.

Trading Ideas:

Nickel trading range is 1033.4-1091.

U.S. nickel exports rose 6.1% in July from the previous month

Nickel is getting support at 1059.20 and resistance is at 1071.80.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 3.50 - 6.4.