India's state-owned National Aluminium Co Ltd has produced 431,000 tonnes of aluminium in 2009-10, an increase of 19.4%, against 361,000 tonnes in 2008-09. Aluminium has touched a low of Rs 103.55 a kg after opening at Rs 104.85, and last traded at Rs104. For today market is looking for the support at 103.4, a break below could see a test of 102.8 and where as resistance is now likely to be seen at 104.8, a move above could see prices testing 105.6.

Trading Ideas:

Aluminium trading range is 102.8-105.6.

NALCO ups aluminium production by 20%

Support for aluminium is at 103.40 and resistance is at 104.80 level.

Aluminium daily stock at Shanghai exchange came up by 5458 tonnes.

BUY ALUMINIUM APR @ 103.50 SL 102.80 TGT 104.20-105.20-106.MCX