China's Hanzhou Jinjiang Group is considering building a one million-tonne-a-year primary aluminium smelter in Inner Mongolia to exploit rich energy resources there. Aluminium has touched a low of Rs 100.4 a kg after opening at Rs 101.3, and last traded at Rs101.95. For today market is looking for the support at 100.9, a break below could see a test of 99.8 and where as resistance is now likely to be seen at 102.6, a move above could see prices testing 103.2.

Trading Ideas:

Aluminium trading range is 99.8-103.2.

China's Hanzhou Jinjiang mulls 1-mln T aluminium smelter

Support for aluminium is at 100.80 and resistance is at 103.10 level.

Aluminium daily stock at Shanghai exchange yesterday came up by 50 tonnes.

BUY ALUMINIUM MAR @ 100.50 SL 99.80 TGT 101.40-102-102.80. MCX