Japan's production of flat-rolled aluminum mill products in March rose 19% from February and was up 66% from a year earlier at 120,361 metric tons, according to preliminary data from the Ministry of Economy, Trade and Industry released. Aluminium has touched a low of Rs 97.6 a kg after opening at Rs 98.5, and last traded at Rs99.35. For today market is looking for the support at 98, a break below could see a test of 96.6 and where as resistance is now likely to be seen at 100.3, a move above could see prices testing 101.3.

Trading Ideas:

Aluminium trading range is 96.6-101.3.

Japan's production of flat-rolled aluminum mill products in March rose 19%

Support for aluminium is at 98 and resistance is at 100.30 level.

Aluminium weekly stock at Shanghai exchange came up by 8700 tonnes.

BUY ALUMINIUM MAY @ 98 SL 96.70 TGT 99.80-100.50-101.60.MCX