China Nickel Output Set to Continue Falling in Nov: China's nickel output is expected to fall further this month after dropping 6.7% in October on weak demand from the stainless steel sector. Nickel has touched a low of Rs 748.6 a kg after opening at Rs. 792, and last traded at Rs 761.7. For today market is looking for the support at 741.9, a break below could see a test of 722.1 and where as resistance is now likely to be seen at 788.2, a move above could see prices testing 814.7.

Trading Ideas:

NICKEL TRADING RANGE IS 725-810.

CHINA NICKEL OUTPUT SET TO CONTINUE FALLING IN NOVEMBER

BUY NICKEL NOV @760-765 SL 754.50 TGT 770-775.50-779.20-784.MCX

NICKEL IS GETTING SUPPORT AT 755.80 OVERALL LOOKING BUT SELL NEAR 790.

RESISTANCE FOR NICKEL IS AT 765.60 ABV THIS LOOKS TILL 772-778 LVL

YESTERDAY LME STOCK FOR NICKEL CAME UP BY 90