October 21, 2016


MTECHTIPS MCX Aluminum is bearish for medium-long term .Currently Aluminum is in strong downtrend but volume is unsatisfactory The open interest is not increasing with trend . Noting point is selling at lower levels seems decreasing. The Aluminum is now trading in oversold level. The Aluminum is now trading in oversold level. The oscillator is showing BUY signal For short term Aluminum is in HOLD SHORT position.Positionally Immediate support for Aluminum is 104.Resistance for the Aluminum is 106-108-109.


Short term and Intraday Level of ALUMINIUM


Currently Aluminum is in HOLD LONG position Aluminium has crossed the high but the trend was not strong and sellers was at high so for short term better buy above 106.8 with stop at 104.0 The oscillator is showing SELL signal


Intraday Trend- Buy is advised only above 106.8 with a stop at 104.6 Below 104 go for sell and put stop at 106.2 .





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