China's 2010 aluminium capacity seen growing 10-15 per cent: China's aluminium output this year may climb to more than 15 million tonnes and its smelting capacity grow between 2 to 3 million tonnes China's aluminium output was 13 million tonnes in 2009. Aluminium has touched a low of Rs 94.5 a kg after opening at Rs 94.6, and last traded at Rs94.55.For today market is looking for the support at 94.4, a break below could see a test of 94.3 and where as resistance is now likely to be seen at 94.8, a move above could see prices testing 95.1.
Trading Ideas:
Aluminium trading range is 94.3-95.1.
China's 2010 aluminium capacity seen growing 10-15 per cent
Support for aluminium is at 93.40 and resistance is at 95.70 level.
Aluminium weekly stock at Shanghai exchange came down by -522 tonnes.
BUY ALUMINIUM MAY ABV 94.80 SL 93.80 TGT 95.50-96.40.MCX
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