Nickel yesterday traded with the positive node and settled 0.39% up at 1045.4 on fresh buying by stockists influenced by a firm trend in global markets.  Some support had been seen from the LME stock also which came down by -564mt, the total stock at LME is now at 130908mt. In yesterday's trading session nickel has touched the low of 1036.5 after opening at 1043.3, and finally settled at 1045.4. For today's session market is looking to take support at 1036.3, a break below could see a test of 1027.1 and where as resistance is now likely to be seen at 1054.8, a move above could see prices testing 1064.1.

Trading Ideas:

Nickel trading range is 1027.1-1064.1.

Nickel yesterday settled with the positive node on fresh buying

Nickel is having resistance at 1054.80 and support at 1036.30 level.

Spread between nickel DEC & JAN contracts yesterday traded in the range of 7.50 - 9.7.