mcx aluminium future monthly technical analysis report april 2016

mcx aluminium future monthly technical analysis report april 2016 Mcx aluminium future for April trading with gain. After last month large fall price seeing some value buying as well as short covering.     Mcx aluminium future daily chart, price trend and momentum are bullish. On downside 98-97 is trend support zone while 106 and 109 are resistances as well as target zones. On weekly chart, trend and momentum both are bullish. Aluminium had taken support of 98 and now moving towards resistances of 103.6 and 107. On monthly chart, trend is reversing and 95 is bottom support. On upside 107-110 and 114 are resistances as well as long term targets.     For April 2016, my view will be above 101.9, mcx aluminium is buy for targets 105 and then possibly 112. Below 101.9, this base metal remain weak and targets will be 96 and 92.

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Pramod Baviskar

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