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The global nickel market was in a 63,000-metric-ton deficit between January and August this year, the World Bureau of Metal Statistics said. That compares with a 4,700-ton deficit in the same period 2009, and with a surplus of 28,100 tons in the whole of 2009, which includes substantial imports by China, some destined for re-stocking purposes. Nickel has touched a low of Rs 1040.5 a kg after opening at Rs.1040.5, and last traded at Rs 1042.8.For today market is looking for the support at 1040.6, a break below could see a test of 1038.5 and where as resistance is now likely to be seen at 1044.8, a move above could see prices testing 1046.9.

Trading Ideas:

Shenzhen Zhongjin Lingnan Nonfemet, China's third-largest zinc producer, closed its Shaoguan lead and zinc smelter completely on Oct. 21 to comply with a provincial government pollution investigation. Zinc yesterday we have seen that market has moved 0.58%. Market has opened at 111.8 & made a low of 111.8 versus the day high of 112.45. The total volume for the day was at 1507 lots and the open interest was at 5776.Now support for the zinc is seen at 111.8 and below could see a test of 111.5. Resistance is now likely to be seen at 112.4, a move above could see prices testing 112.8.

Trading Ideas:

Zinc trading range is 111.5-112.8.

Copper rose slightly as investors repurchased positions while sentiment was bullish following a m

Crude settled higher ending a week with wild price swings mostly where things started, as traders paused ahead of a weekend meeting of the Group of 20 industrial and developing nations. Strikes in France over pension reform that passed the French senate late in the day remained supportive. The strike included walkouts in French refineries and a key oil port. Now support for the crude is seen at 3656 and below could see a test of 3643. Resistance is now likely to be seen at 3679, a move above could see prices testing 3689.

Trading Ideas:

Crude trading range is 3643-3689.

Silver ended the day higher tracking higher base metal prices.

Gold prices steadied Saturday recovering from lows as the dollar fluctuated against a currency basket ami