The global nickel market may be in supply deficit only briefly if producers manage to bring on line faster than expected new projects waiting in the wings. Nickel has touched a low of Rs 994.2 a kg after opening at Rs. 1015, and last traded at Rs 1014.3. For today market is looking for the support at 999.9, a break below could see a test of 985.4 and where as resistance is now likely to be seen at 1023.1, a move above could see prices testing 1031.8.

Trading Ideas:

Nickel trading range is 985.4-1031.8.

The global nickel market may be in supply deficit

Nickel is getting support at 1008.80 and resistance is at 1019.20.

China's Jinchuan sees nickel prices retreating

SELL NICKEL MAR @ 1028-1032 SL 1042 TGT 1022-1016.50-1012.MCX