Aluminium fall on weak global cues

Demand for aluminum fabricated products will remain flat in the second quarter of the year with no meaningful recovery yet seen.

Aluminium has touched a low of Rs 98.2 a kg after opening at Rs 99.1, and last traded at Rs98.9.

For today market is looking for the support at 98.3, a break below could see a test of 97.7 and where as resistance is now likely to be seen at 99.4, a move above could see prices testing 99.9.

Trading Ideas:

Aluminium trading range is 97.7-99.9.

Kaiser sees no meaningful recovery in aluminum demand

Support for aluminium is at 98.30 and resistance is at 99.40 level.

Japan March flat-rolled aluminum output up 19% on month

BUY ALUMINIUM MAY AT 97 SL 95.50 TGT 98.80.MCX

Courtesy: Kedia Commodities