EquityPandit’s Outlook for Aluminium for the week (Mar 11, 2019 – Mar 15, 2019)
Technically on the daily charts we see minor support on the downside for Aluminum Mcx Future lies in zone of 125- 124 levels, where as minor resistance on the upside is capped around 139- 140 levels.
If Aluminum Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Aluminum Mcx Future can head towards major support on lower side around 120- 121 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Aluminum Mcx Future can head towards higher levels around 145- 146
Currently Aluminum Mcx Future is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 145- 146 on upside and 120- 121 on downside.