Alcoa Inc. will continue discussing ways to resolve energy costs at its aluminum smelters in Italy and will not curtail its two plants there on Feb. 6 as previously announced.

Aluminum has touched a low of Rs 92.6 a kg after opening at Rs 93.85, and last traded at Rs93.6.

For today market is looking for the support at 92.9, a break below could see a test of 92.1 and where as resistance is now likely to be seen at 94.1, a move above could see prices testing 94.6.94.1, a move above could see prices testing 94.6.

Trading Ideas:

Aluminium trading range is 92.1-94.6.
Alcoa postpones Italian aluminum smelter shutdown
Support for aluminium is at 94.40 and resistance is at 96.85 level.
Aluminium daily stock at Shanghai exchange came up by 2286 tonnes.
SELL ALUMINIUM JAN AT 94.80 SL 95.60 TGT 93.90-93.10-92.20. MCX

Courtesy: Kedia Commodities

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