Monday, February 28, 2011

MCX Aluminium Likely to remain Bullish

MCX Aluminum March contract has been on continues buying mode since last three trading sessions. It tested higher levels of 116.50 during the previous week. It remained above 21 days exponential moving average which suggests more buyers.

MCX Aluminium March contract opened at 116.20 per Kg. It last traded at 115.65. The contract faces resistance near 117.50 while its support is seen near 113.

Short term traders can buy MCX Aluminium March contract near 115 with stop loss of 113.50 and can wait for target of 117.


Posted By Commodity MCX Tips