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Nickel Price Chart And Analysis

Indian Commodity Market

Commodity trading, futures, are not commonly understood by many regular traders. Though the origin of commodity trading has been traced to ancient civilization, it still maintained its popularity. Just like the stock market, the commodity market also offers full of opportunities. Here, commodities are exchanged between buyers and sellers. In order to clear the base of the subject, we create separate sections of commodities. The broad section of commodities is Bullion, Base Metal, Energy. Previously, we’ve discussed Bullion metals. Now, we entered into the base metal section where you will get each detail regarding it. Here, in this article, along with data we will provide a live Nickel Price Chart.

As the article will cover Nickel, before proceeding further we need to have some idea regarding base metal. The Base Metal commodity market is one of the oldest and active prevailing markets in human history. Base metals like Copper, Lead, Nickel, Zinc, etc can easily found. Industrial as well as infrastructure are the main fields of using base metals. India is one of the largest users and producers of base metals.

Indian Commodity Exchange

Just like the national stock exchange, SEBI has allowed commodity exchanges for commodity trading. Among the regional and national commodity exchanges, there are few active exchanges in India. Multi Commodity Exchange (MCX), National Board of Trade (NBOT), National Multi Commodity Exchange (NMCE). National Commodity and Derivatives Exchange Ltd (NCDEX). The forward market commission regulates these exchanges. Like equity, the commodity can be traded through two types of market, over the counter market and exchange. In the OTC market, the direct exchange happens between buyers and sellers. Though most of the trades take place through the exchange market, there are still some traders who prefer OTC trading.

Nickel, a Base Metal

Nickel or Ni is a metal discovered by Axel Fredrik Cronstedt in the year 1751. It has been used since ancient times but has not been isolated since 1751. Artifacts with Nickel have been found dating back to 5000 B.C. It is an important component of coins since the early 19th century. Find below Nickel price, chart and technical analysis.

Nickel Price Support And Resistance

Nickel Futures Daily Chart

The chart above the daily candles will update automatically with Nickel price movements. To see updated charts you need to refresh the page manually.

Nickel is a silvery-white metal. It is a fairly good conductor of heat and electricity. It is quite ductile and can be beaten into thin sheets. It exhibits a good shine or glow and Nickel is harder than iron. Nickel also has a ferromagnetic nature. Nickel is highly resistant to corrosion and is used for electroplating and to make Nickel alloys.

Usage of Nickel

Nickel is used in:
1) Stainless Steel
2) Coinage
3) Corrosion-resistance alloys
4) Nickel plating
5) Vaults
6) Nickel-Cadmium batteries

Nickel in the Indian Commodity Market

Nickel is also widely traded in MCX exchange under the base metal category. It is a very popular trading instrument in commodity traders due to its huge volatility and price range. Both Nickel and Nickel Mini variation is available in MCX for trading.

Intraday traders play for as high as 10-20 points Nickel price movement. The trading unit of Nickel is 250 kgs. That means the lot size of Nickel is 250 and that of Nickel Mini is 100. If a trader can pull out 10 points a day from Nickel he can easily make out Rs. 2500 per lot per trade.

Like other commodities, Nickel should also be traded at morning sessions between 10 AM – 1 PM in MCX and between 6 PM – 9 PM in the evening. Zerodha needs an NRML margin of 10000 (approx) and an MIS margin of 5000 (approx) for trading Nickel.