EquityPandit’s Outlook for Aluminium for the week  (Oct 16, 2017 – Oct 19, 2017) :

ALUMINIUM:

ALUMINIUM (137.50) closed the week on negative note losing around 1.70%.

As we have mentioned last week, that support for the commodity lies in the zone of around 135 to 137 where break out levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 130 to 131 from where the commodity broke out of March-2017 highs. During the week the commodity manages to hit a low of 137 and close the week around the levels of 137.50.

Support for the commodity lies in the zone of around 135 to 137 where break out levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 130 to 131 from where the commodity broke out of March-2017 highs.

Resistance for the commodity lies in the zone of 143 to 145. If the commodity manages to close above these levels then the commodity can move to the levels of 149 to 151.

Broad range for the commodity in the coming week can be seen between 130 – 132 on downside and 146 – 148 on upside.