Nickel futures maintained to keep previous upward trend in the domestic exchange with the support of firm global market driven by early declines in US dollar on Wednesday. MCX Nickel October contract traded at Rs. 1117.80 kg up Rs. 14.10 and moved between Rs. 1120.00 1105.00 per kg. Total volume recorded 6 032 lots. It had opened the session at Rs. 1105.00 per kg. Resistances for the contract are at Rs. 1127 1130 per kg.
Supports for the metal are at Rs. 1105 per kg. Most of the metals pack has got help from the declines in Dollar which now rules at 9 month low against the EURO. Strong set of ISM numbers helped Nickel but was unable to bring delight in Dollar. Nickel extended gains to fourth session up 2.68% at five month high of Rs. 1 103.70 kg on euro rebound and chart based buying. Nickel has touched a low of Rs. 1068.3 a kg after opening at Rs. 1074.9 and last traded at Rs. 1103.7.
