Aluminium yesterday traded with the positive node and settled 0.26% up at 113.65 as support from US Labor Department announcement came that the initial jobless claims rose to 410,000 in the week ended February 12th, and the US consumer price index (CPI) in January increased by 0.4% from December 2010, slightly higher than the expected level in response, the US dollar index weakened, with the index opening at 78.19 and closing at 77.93, down 0.34%. LME aluminum prices were boosted by a weaker US dollar. LME aluminum prices opened at USD 2,504/mt, and later rebounded after briefly falling below USD 2,500/mt, and finally closed at USD 2,513/mt, up USD 9/mt compared with the previous trading day. For today's session market is looking to take support at 112.4, a break below could see a test of 111.1 and where as resistance is now likely to be seen at 114.4, a move above could see prices testing 115.2.

Trading Ideas:

Aluminium trading range is 111.1-115.2.

Aluminium yesterday traded with the positive node and settled 0.26% up getting suport from US data

Aluminium is taking support at 112.40 and resistance at 114.80 level.

Aluminium daily stocks at Shanghai exchange came up by 78 tonnes.

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 275