The Nickel futures contract on the Multi Commodity Exchange (MCX) has risen sharply in the past week. The contract made a low of ₹574.6a kg last Friday (May 5) and has surged about 5 per cent to trade at the current level of ₹602 . A key resistance is ahead at ₹605 — the 21-day moving average. If the contract manages to breach this hurdle decisively, the downside pressure will ease. Such a bre...