Aluminium yesterday traded with the positive node and settled 0.23% up at 87.8. Some support had been seen from the LME stock also which came down by -6975mt, the total stock at LME is now at 4525100mt. In yesterday's trading session aluminium has touched the low of 85.9 after opening at 86.8, and finally settled at 87.8. For today's session market is looking to take support at 86.4, a break below could see a test of 84.9 and where as resistance is now likely to be seen at 88.8, a move above could see prices testing 89.8. Spread between aluminium JUN & JUL contracts yesterday ended at 1.05. Spread yesterday traded in the range of 1 - 1.05.

Trading Ideas:

Aluminium trading range is 84.9-89.8.

Aluminium ended positive as some short covering seen later

Support for aluminium is at 53.40 and resistance is at 88.80 level.

Aluminium daily stock at Shanghai exchange came down by -2514 tonnes.

SELL ALUMINIUM JUNE BELOW 88.50 SL 89.50 TGT 87.20-86.50.MCX