China is likely to record a 500,000 metric-ton surplus of aluminum this year, but consumption of the metal is likely to grow strongly due to infrastructure projects. Aluminium has touched a low of Rs 100.65 a kg after opening at Rs 101.6, and last traded at Rs101.1.For today market is looking for the support at 100.4, a break below could see a test of 99.7 and where as resistance is now likely to be seen at 102.1, a move above could see prices testing 103.1.

Trading Ideas:

Aluminium trading range is 99.7-103.1.

China 2010 aluminium surplus likely 50,000 tons

Support for aluminium is at 100.40 and resistance is at 102.10 level.

Aluminium daily stock at Shanghai exchange up by 100 tonnes.

BUY ALUMINIUM MAR ABV 101.60 SL 100.70 TGT 102.60-103.20-104. MCX