Japanese aluminum premiums for the second quarter have settled lower at $122-124 a metric ton, down close to 6% from the previous quarter as more material has become available.

Aluminium has touched a low of Rs 100.8 a kg after opening at Rs 100.95, and last traded at Rs101.65.

For today market is looking for the support at 101, a break below could see a test of 100.3 and where as resistance is now likely to be seen at 102.1, a move above could see prices testing 102.6.

Trading Ideas:

Aluminium trading range is 100.3-102.6.
Japan 2Q aluminium premium settles lower at $122-$124/ton
Support for aluminium is at 100.60 and resistance is at 102.50 level.
Aluminium daily stock at Shanghai exchange yesterday came up by 8050 tonnes.
BUY ALUMINIUM MAR ABV 101.60 SL 100.70 TGT 102.60-103.20-104.MCX

Courtesy: Kedia Commodities

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