MTECHTIPS MCX ALUMINIUM INTRADAY trading tips 19-10-2016
MTECHTIPS MCX Aluminium is bearish for medium-long term.Currently Aluminium is showing some down move and the trend and not gained strength momentum is also showing strength but volume is unsatisfactory The open interest is not increasing with trend . Caution note selling at lower levels seems decreasing. The Aluminium is now trading in overbought level. The Aluminium is now trading in overbought level. The oscillator is showing SELL signal and Aluminium closed below 1 week low with volume signals down breakout.Positionally Immediate support for Aluminium is 109.Resistance for the Aluminium is 110-111-
Short term and Intraday Level of ALUMINIUM
Aluminium and closed below 1 week low with volume signals down breakoutCurrently Aluminium is in HOLD SHORT position Aluminium is moving sideways so short term investor better to buy only above 112.95 or hold with stop at 108.85 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 111 with a stop at 108.2 Below 107.4 go for sell.