Nickel is outperforming the base metals packs since last 4-5 sessions on US positive economical data and on the anticipation that China will ease its monetary policy to boost its economic growth.
Meanwhile traders are also eying the outcome of the European leaders, yesterday held their meeting to resolve the issue of debt crisis.
Meanwhile, the fall in dollar index also supported international base metals to break there price sealing which is continuing from last 2-3 sessions.
Traders are waiting for the data which are going to get released tomorrow, and expectations for the same is looking positive which may boost prices to Rs. 1023 to 1030 by today or tomorrow.
Nickel is expected to form a bottom near Rs. 996 the traders are advised to accumulate with stop loss of the given level for the the target of Rs. 1023-1030.
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