India, Jan. 20 -- Technically Nickel market is under short covering as market has witnessed drop in open interest by 1. 99% to settled at 1622 while prices up 5.7 rupees.
Now MCX Nickel is getting support at 1306.9 and below same could see a test of 1290.2 levels and resistance is now likely to be seen at 1337.6 a move above could see prices testing 1351.6.
Nickel yesterday settled up by 0.43% at 1323.5 as China's economic recovery accelerated in the fourth quarter driven by stronger demand at home and abroad and policy stimulus which is expected to provide a solid boost into 2021.
U.S. retail sales fell for a third straight month in December while U.S. producer prices rose moderately suggesting that an anticipated pick-up in inflation i...