Total world aluminum output in January rose by 11,000 metric tons to 1.995 million tons, from 1.984 million tons in December, according to figures released by the International Aluminum Institute. Aluminium has touched a low of Rs 96.1 a kg after opening at Rs 97.8, and last traded at Rs96.75.For today market is looking for the support at 95.6, a break below could see a test of 94.4 and where as resistance is now likely to be seen at 98.4, a move above could see prices testing 100.1.98.4, a move above could see prices testing 100.1.

Trading Ideas:

Aluminium trading range is 94.4-100.1.

Jan Daily Average Aluminium Output 64,400 T – IAI

Support for aluminium is at 95.60 and resistance is at 97.90 level.

Aluminium daily stock at Shanghai exchange came down by -100 tonnes.

BUY ALUMINIUM FEB @ 96.50 SL 95.60 TGT 97.10-98.20.MCX