MCX Aluminum March future prices traded above 21 days exponential moving average which suggests buying sentiments may continue. It tested higher levels of 117.75 during the previous week.
MCX Aluminum March contract opened at 116.45 per Kg. It tested intraday high of 117.30 and last traded at 117. The contract faces resistance near 119 while its support is seen near 115.
Short term traders can buy MCX Aluminum March contract near 116.50 with stop loss of 114.80 and can wait for target of 118.50.