Nickel yesterday traded with the negative node and settled -0.03% down at 1202.4 as speculators indulged in off-loading their positions driven by sluggish demand from alloy-makers in spot markets. In yesterday's trading session nickel has touched the low of 1199.6 after opening at 1204.5, and finally settled at 1202.4. For today's session market is looking to take support at 1199.2, a break below could see a test of 1195.9 and where as resistance is now likely to be seen at 1206.1, a move above could see prices testing 1209.7.

Trading Ideas:

Nickel trading range is 1195.9-1209.7.

Nickel settled weak driven by sluggish demand from alloy-makers in spot markets.

Nickel is having resistance at 1214.20 and support at 1190 level.

Spread between nickel MAY & JUN contracts yesterday traded in the range of 8.50 - 11.