Commodity reported that MCX Aluminum February contract opened at 114.40 per Kilogram against previous close of 114.85. It tested lower levels of 112.50 during the day. It last traded at 112.70 down by INR 2.20.
MCX Aluminium future prices remained below 21 days simple moving average which suggest weak trend. The contract faces resistance near 116 while its support is seen near 110.
Mr Sawan Parmar analyst said that positional traders can sell MCX Aluminium February contract near 114 with stop loss of 115.50 and can wait for target of 110.50.
（Sourced from Commodityonline.com）
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