Inventories of aluminum monitored by the Shanghai Futures Exchange rose by 2,148 tons to 413,008 tons, based on a survey of 11 warehouses in Shanghai, Guangdong, Jiangsu and Zhejiang, the exchange said. That's the highest level since at least 2003. Aluminium has touched a low of Rs 105.15 a kg after opening at Rs 105.45, and last traded at Rs105.3.For today market is looking for the support at 105.1, a break below could see a test of 104.9 and where as resistance is now likely to be seen at 105.5, a move above could see prices testing 105.7.

Trading Ideas:

Aluminium trading range is 104.9-105.7.

Aluminium shanghai stocks rose to highest level since at least 2003

Support for aluminium is at 104.30 and resistance is at 106.40 level.

Aluminium weekly stock at Shanghai exchange came up by 2148 tonnes.

BUY ALUMINIUM APR @ 104.50 SL 103.50 TGT 105.20-106-106.80.MCX