EquityPandit’s Outlook for Aluminium for the week (April 15, 2019 – April 19, 2019):

ALUMINIUM:

 
Technically on the daily charts we see minor support on the downside for Aluminum Mcx Future lies in zone of 142-143 levels, whereas minor resistance on the upside is capped around 150- 152 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 140- 142 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 158- 160

Currently Aluminum Mcx Future is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 158- 160 on upside and 140- 142 on downside.