Commodity Outlook for Aluminum by KediaCommodity

AluminumAluminum ended down on demand concerns after euro-zone debt crisis. Aluminium has touched a low of Rs 89.3 a kg after opening at Rs 91.6, and last traded at Rs89.5.For today market is looking for the support at 88.6, a break below could see a test of 87.6 and where as resistance is now likely to be seen at 91.2, a move above could see prices testing 92.8.

Trading Ideas:

Aluminium trading range is 89.4-90.1.

Aluminum ended down on demand concerns after euro-zone debt crisis

Support for aluminium is at 88.60 and resistance is at 91.20 level.

Aluminium daily stock at Shanghai exchange came up by 21533 tonnes.

SELL ALUMINIUM JUNE @ 90.50 SL 91.50 TGT 89.50-80.80.MCX