The metal added more than $10,000 to trade at a 15-year high above $40,000 a ton -- the biggest-ever daily dollar gain in the 35-year history of the contract
The company had invested heavily to expand business and explore more materials in the nickel sector as the resource is gaining traction amid a global new energy boom
Nicomet has a capacity to produce 7.5 tonne per annum of nickel and cobalt.
The exchange already offers base metal options on futures in copper and zinc and option contracts in gold, silver and crude
Any breach below 1,340-1,350 would crash Nickel's prices till 1,300
Nickel has made 'harami' candlestick formation after sharp red candle, indicating selling momentum has subsided
For Copper sellers to gain upperhand, they must breach the support of 668 levels
Gold made 'Hammer' candlestick in the month of November after slipping 5.4 per cent and has now bounced back
Zinc, aluminium poised for correction as prices move ahead of fundamentals
On the daily scale, Zinc has witnessed a crossover of 20 and 50 EMA, suggesting fresh sign of bullishness
There is a negative divergence in RSI_14 on Crude oil's daily scale
Nickel took support around 900 and then bounced back till 932
Rupee's ride from 71.80 to 73.20 was ferocious as in just three trading sessions, it lost more than 1.5 per cent
Commodity outlook and stock recommendation by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls Securities
The metal used to make stainless steel hit a 16-month high last Thursday before shedding 2.1% on Friday
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.
Commodity outlook and trading ideas by Bhavik Patel - Sr. Technical Analyst (Commodities), Tradebulls.
Global output of nickel is expected to rise to 2.05 million tonnes in 2017, up from 1.93 million in 2016
Market analysts attributed the rise in nickel prices at futures trade to enlarging of positions by speculators
Traders reduced positions, tracking a weak trend at spot market