Norway’s Norsk Hydro was likely to close Germany’s biggest aluminium smelter plant due to high energy costs. Aluminium has touched a low of Rs 105.85 a kg after opening at Rs 105.85, and last traded at Rs106.05. For today market is looking for the support at 105.7, a break below could see a test of 105.3 and where as resistance is now likely to be seen at 106.6, a move above could see prices testing 107.2.

Trading Ideas:

Aluminium trading range is 105.3-107.2.

Norsk Hydro may shut German aluminium plant

Support for aluminium is at 105.30 and resistance is at 107.20 level.

Aluminium daily stock at Shanghai exchange came up by 3222 tonnes.

BUY ALUMINIUM APR @ 104.50 SL 103.50 TGT 105.20-106-106.80.MCX