Aluminium yesterday traded with the negative node and settled -1.22% down at 110.9. Some support had been seen from the LME stock also which came down by -3650mt, the total stock at LME is now at 4431350mt. In yesterday's trading session aluminium has touched the low of 110.7 after opening at 112.35, and finally settled at 110.9. For today's session market is looking to take support at 110.2, a break below could see a test of 109.5 and where as resistance is now likely to be seen at 112.1, a move above could see prices testing 113.4. Spread between aluminium JAN & FEB contracts yesterday ended at 1.20. Spread yesterday traded in the range of 1.05 - 1.3.

Trading Ideas:

Aluminium trading range is 109.5-113.4.

Aluminium yesterday traded with the negative node and settled -1.22% down

Aluminium is taking support at 109 and resistance at 111.60 level.

Aluminium daily stocks at Shanghai exchange came down by 1021 tonnes

BUY ALUMINIUM JAN ABV 111 SL 110 TGT 111.80-112.50-113.50. MCX