Aluminum yesterday traded with the negative node and settled -0.05% down at 110.8. 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. In yesterday's trading session aluminum has touched the low of 110.6 after opening at 110.75, and finally settled at 110.8. For today's session market is looking to take support at 110.6, a break below could see a test of 110.5 and where as resistance is now likely to be seen at 110.9, a move above could see prices testing 111.1.

Trading Ideas:

Aluminium trading range is 110.5-111.1.

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 JAN @ 109.50 SL 108.50 TGT 110.50-111.50.MCX

YESTERDAY LME STOCK FOR ALUMINIUM CAME UP  BY 8025