Aluminum prices are on the rise as the government moves to reduce overcapacity in the sector and conserve energy in the midst of several cold spells hitting China this year. Aluminium has touched a low of Rs 101.5 a kg after opening at Rs 103.7, and last traded at Rs102.2. For today market is looking for the support at 101.15, a break below could see a test of 100.1 and where as resistance is now likely to be seen at 103.6, a move above could see prices testing 105.

Trading Ideas:

Aluminium trading range is 99-105.

Power cuts take sheen off aluminum producers

Now support for aluminium is at 101.10 and resistance is at 103.40 level.

Aluminium daily stock at Shanghai exchange came down by -1239 tonnes.

SELL ALUMINIUM JAN @ 103 SL 103.80 TGT 102.20-101.60-100.80. MCX