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 AT 980-982 SL 975 TGT 985.20-988.80-992-995.50.MCX

Courtesy: Kedia Commodities

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