Nickel on MCX settled down -1.68% at 708.30 tracking weakness from LME Nickel prices while slides 1.9% on profit taking as traders booked profits ahead of Friday's U.S. non-farm payrolls report and as markets priced in a lower chance of further easing from China. Up till now Nickel prices have surged more than 10 percent in June and July on worries about a crackdown in ore supply from Philippines.Visit Us www.ripplesadvisoryx.com/freetrial.php or Get Free Trials Just Give One Missed Call @98-27-80-80-90.

At the MCX, nickel futures for August 2016 contract is trading at Rs 709.60 per kg, up by 0.18 %, after opening at Rs 709.60, against a previous close of Rs 708.30. It touched the intra-day high of Rs 711.50. 

Nickel futures were trading higher during the morning trade in the domestic market on Friday as traders indulged in building up fresh positions amid a surge in demand from alloy-makers at the domestic spot market. Further, a rise in domestic demand from alloy-makers at the domestic spot markets, buoyed the up trend in nickel prices at the futures trade.