Aluminum yesterday traded with the positive node and settled 0.14% up at 110.25, LME aluminum prices fluctuated at high levels, and opened at USD 2,448/mt, and later hit a high of USD 2,458/mt and closed at USD 2,454/mt, down USD 1/mt compared with the previous trading day. Positions fell by 3,674 lots, while LME aluminum inventories increased by 8,025 mt to 4,280,600 mt. Today, SHFE aluminum prices opened flat, and later rallied following other base metals prices. Today is the last trading day ahead of New Year's Day, and long investors may exit the market after profit-taking in order to minimize risks. For today's session market is looking to take support at 109.8, a break below could see a test of 109.3 and where as resistance is now likely to be seen at 110.7, a move above could see prices testing 111.1.

Trading Ideas:

Aluminium trading range is 109.3-111.1.

Market remains in the range after the long holiday in LME.

Aluminum is taking resistance at 111.20 and support is seen at 108.

Dollar weakened but rallied later, finding support at 79.59.

BUY ALUMINIUM DEC @ 109.50 SL 108 TGT 111-112.60.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 8025