Vale is going ahead with plans to bring in outside workers to increase production at its strike-bound Sudbury nickel and copper mining operations following last week's rejection of a contract offer. Nickel has touched a low of Rs 971.5 a kg after opening at Rs.989.2, and last traded at Rs 983.5.For today market is looking for the support at 973.6, a break below could see a test of 963.7 and where as resistance is now likely to be seen at 991.3, a move above could see prices testing 999.1.

Trading Ideas:

Nickel trading range is 963.7-999.1.

Vale Restarting Sudbury Nickel Using Contractors

Nickel is getting support at 979.20 and resistance is at 987.80.

Jinchuan Group plans to produce 130,000 metric tons of nickel.

BUY NICKEL MAR @ 980-982 SL 975 TGT 985.20-988.80-992-995.50.MCX