Aluminium yesterday traded with the positive node and settled 0.69% up at 116.7 tracking LME aluminum prices which opened at USD 2,549/mt, and later climbed continuously, with prices finally closing at a record high of USD 2,600/mt, up USD 35/mt compared with the previous trading day but due to expiry of Feb month we have seen Feb expired with a weight. The euro continued to strengthen due to strong expectations that the ECB will raise the interest rates, and the US dollar index weakened in response. The US dollar index opened at 77.26 and closed at 76.82, down 0.52%. In yesterday's trading session aluminium has touched the low of 113.4 after opening at 115.05, and finally settled at 114.05. For today's session market is looking to take support at 113.2, a break below could see a test of 112.4 and where as resistance is now likely to be seen at 115.1, a move above could see prices testing 116.1.

Trading Ideas:

Aluminium trading range is 114.3-118.5.

Aluminium yesterday traded with the positive node and settled 0.69% up at 116.7

Aluminium is taking support at 115.50 and resistance at 117.80 level.

Aluminium daily stocks at Shanghai exchange came down by 199 tonnes.

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 600