Aluminum May contract has moved up by 0.48% during trading session in MCX due to lower stock.
Aluminum opened at Rs 95.15per Kg and made a low of 95 while it made a high of 96.20. Total volume is around 1955 lots and open interest is around 1678. Today LME stock is -3600.
"Technically, support level is at 92." said Hardik Shah.
Aluminum gained from 93.6 to 96.2 within last 2 trading days.14 days RSI for Aluminum is at 57 and is increasing continuously on buying pressure.
"Fundamentally, Aluminum is in sideway. One can make long position near 90 levels for long term." Said Shah.
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