Nickel settled positive in tandem with a firming trend overseas. Pickup in demand at the spot markets also supported the upside in nickel price. Nickel has touched a low of Rs 1027.3 a kg after opening at Rs.1035.1, and last traded at Rs 1036.7.For today market is looking for the support at 1027.8, a break below could see a test of 1019 and where as resistance is now likely to be seen at 1045, a move above could see prices testing 1053.4.

Trading Ideas:

Nickel trading range is 1019-1053.4.

Nickel settled positive in tandem with a firming trend overseas

Nickel is getting support at 1027.80 and resistance is at 1045.

Spread between nickel SEP & OCT contracts yesterday traded in the range of 7.70 - 8.8.