Nickel prices have trended lower since the start of November and the declines suggest caution towards the gains in the other base metals. Nickel has touched a low of Rs 745.3 a kg after opening at Rs. 750.1, and last traded at Rs 751.7.

For today market is looking for the support at 747.10, a break below could see a test of 742.50 and where as resistance is now likely to be seen at 754.40, a move above could see prices testing
757.10.

Trading Ideas:

NICKEL TRADING RANGE IS 735-765.

NICKEL PRICES HAVE TRENDED LOWER SINCE THE START OF NOVEMBER

SELL NICKEL DEC @ 755-758 SL 762 TGT 751.40-747.80-744.50-741.20-736.MCX

SPREAD BETWEEN NICKEL DEC & JAN CONTRACTS YESTERDAY ENDED AT 4.20.

RESISTANCE FOR NICKEL IS AT 754.80 AND SUPPORT IS AT 745.60.