EPIC RESEARCH MCX NICKEL UPDATE OF 1 AUGUST 2016

Nickel trading range for the day is 696.8-725.    
Nickel fell as funds and traders squaring their books reversed bets on higher prices and the market fretted from rally based on worries about supplies.         Stocks at LME approved warehouses have fallen more than 17 percent since the middle of January to 373,074 tonnes.
But exchange stocks including the 105,000 tonnes in warehouses monitored by the Shanghai Futures Exchange account for about a quarter of global demand this year.

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