Mcx aluminium future this week closed with gain at 96.95. After last week’s profit booking, this week we have seen some value buying from the bottom. This week aluminium future high was at 100.6 while low was at 94.6. Total 6 rupees weekly move and closing in green. On the weekly chart, the price trend is absolutely down but price pattern and indicator pattern are strong bullish and suggesting medium to long term buying.
On the downside, 95 and 93 levels are support zones as well as buying levels for fresh investors. On an upside, 99.5 and 101.8 levels are resistances as well as short to medium term targets. For long-term investors, 104 will be first target level and can be expected in Jan. or Feb. Series.