Nickel miner Xstrata has reached a tentative labour agreement with its workers in the northern Ontario city of Sudbury, averting a possible strike. Nickel has touched a low of Rs 831 a kg after opening at Rs.839.1, and last traded at Rs 846.For today market is looking for the support at 834.9, a break below could see a test of 823.8 and where as resistance is now likely to be seen at 853.2, a move above could see prices testing 860.4.

Trading Ideas:

Nickel trading range is 830-860.

Nickel mining giant, workers reach last-minute deal

Nickel is getting resistance at 839.60 and support at 830.80.

Spread between nickel FEB & MAR yesterday traded in the range of 3.90-6.

BUY NICKEL FEB @ 846-848 SL 841 TGT 850.80-854.50-858.MCX