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Aluminium View for Intraday Trader

Aluminium January contract settled at 110.10 up by 0.90 Rupees. Today price objective for Aluminium bulls would be 111 any sustained move above that level would bring retest to 112 and more upside. Support is now seen near 109.90 and then at 108 any failure below 108 would bring 107 and more down side.

Trading range for the day is expected among the key support at 109 and resistance at 112.

Recommendation:

* Today selling below 109.70 with stop loss above 110.20 for targeting 109-108.30 and more down side might be appropriate.

* Buying Aluminium above 111.40 with stop loss below 110 for targeting 112.30-114 and more upside might be appropriate.

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