Aluminum yesterday traded with the negative node and settled -0.82% down at 109.85. Some pressure had been seen from the LME stock also which came up by 5775mt, the total stock at LME is now at 4281500mt. Spot aluminum market sentiment was neutral, and spot aluminum prices in east China failed to keep pace with future aluminum prices, Some suppliers were still moving goods for cash at the end of year, but buyers only made purchases moderately, keeping trading sentiment sluggish. For today's session market is looking to take support at 109.3, a break below could see a test of 108.8 and where as resistance is now likely to be seen at 110.6, a move above could see prices testing 111.4.

Trading Ideas:

Aluminium trading range is 108.8-111.4.

Aluminum yesterday traded with the negative node and settled -0.82% down

Aluminium is taking resistance at 111.10 and support is seen at 108.80

Aluminium daily stocks at Shanghai exchange came down by 2641 tonnes.

BUY ALUMINIUM DEC @ 109-109.50 SL 108 TGT 110.50-111.50.MCX