China's aluminum output in January fell 3% on the month to 1.292 million metric tons, the International Aluminum Institute said Thursday.  It was the lowest monthly output since September 2009, the IAI said, but was 44% higher compared with January 2009. Aluminium has touched a low of Rs 99.35 a kg after opening at Rs 99.95, and last traded at Rs101.15.For today market is looking for the support at 99.6, a break below could see a test of 98.1 and where as resistance is now likely to be seen at 102.4, a move above could see prices testing 102.4, a move above could see prices testing 103.7.

Trading Ideas:

Aluminium trading range is 98.1-103.7.

China's aluminum output in January fell 3% on the month to 1.292 million metric tons

Support for aluminium is at 100.05 and resistance is at 102.40 level.

Aluminium daily stock at Shanghai exchange came up by 249 tonnes.

BUY ALUMINIUM MAR @ 101 SL 99.80 TGT 101.90-102.60-103.50. MCX