Qatalum, the state-of-the-art aluminium smelter being built as a joint venture between Qatar Petroleum (QP) and Hydro of Norway is gearing up towards full production later this year. Aluminium has touched a low of Rs 98.6 a kg after opening at Rs 99.4, and last traded at Rs99.5.For today market is looking for the support at 98.8, a break below could see a test of 98 and where as resistance is now likely to be seen at 100.1, a move above could see prices testing 100.6.

Trading Ideas:

Aluminium trading range is 98-100.6.

Qatar aluminium gears up for full output this year

Support for aluminium is at 98.80 and resistance is at 100.10 level.

Aluminium daily stock at Shanghai exchange came up by 703 tonnes.

SELL ALUMINIUM MAR @ 100 SL 100.90 TGT 99.40-98.60.MCX