Jinchuan Group Co. has raised its refined nickel prices by CNY8,000 ($1,197) to CNY180,000 a metric ton. Nickel has touched a low of Rs 1081.9 a kg after opening at Rs.1081.9, and last traded at Rs 1087.1.For today market is looking for the support at 1083.2, a break below could see a test of 1079.2 and where as resistance is now likely to be seen at 1089.8, a move above could see prices testing 1092.4.

Trading Ideas:

Nickel trading range is 1079.2-1092.4.

China Jinchuan ups refined nickel prices 4.7% To CNY180,000/ton

Nickel is having resistance at 1088.2 and support at 1072.40 level.

Spread between nickel OCT & NOV contracts yesterday traded in the range of 7.50 - 8.8.