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HinduBusinessLine

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Aluminium: Consolidates before the next upswing

  • Aluminium has shown a bullish outlook with a recent rise above ₹245, reversing the downtrend since mid-March.
  • Strong support is around ₹245, indicating a positive bias as long as the contract remains above this level.
  • There is a high likelihood of the contract breaking the ₹246-₹251 range and reaching ₹260-262 in the short term.
  • Traders are advised to go long at ₹249, accumulate on dips at ₹247, with stop-loss at ₹243 and exit long positions at ₹260.

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