MTECHTIPS MCX ALUMINIUM INTRADAY trading analysis 16-06-2016
DAILY:- Mcx aluminium closed at 107.9 with gain. Here above 106.4 stay long for targets 110 to 114.
WEEKLY :- Mcx aluminium future this week closed with gain. After last 2 weeks correction and consolidation we saw strong short covering in aluminium prices. For next week, mcx aluminium future below 106.5 remain weak and sell. On downside 103.6 and 100.6 are downside supports as well as target zones for aluminium future. On upside 106.5 is only major resistance and fresh short entry zone with stop loss. Commodity traders watch 106.5 level closely and above it follow buy on dips strategy for targets 110.5 and 116 while below it expect lower levels up to 100 to 101.