MCX aluminium weekly report for 13 to 17 june 2016

MCX aluminium weekly report for 13 to 17 june 2016 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.

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Pramod Baviskar

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