MTECHTIPS MCX ALUMINIUM INTRADAY trading tips 20-10-2016
MTECHTIPS MCX Aluminium is bearish for medium-long term .Currently Aluminium is in uptrend and the trend is supported with good volume The open interest is not increasing with trend . Cautious point is buying at higer levels seems decreasing. The oscillator is on SELL signal and Aluminium is coming down from overbought level For short term Aluminium is in SELL position.Positionally Immediate support for Aluminium is 108.Resistance for the Aluminium is 109-110-111-
Short term and Intraday Level of ALUMINIUM
Currently Aluminium is in HOLD SHORT position Aluminium has formed a new 5 day low yesterday but failed to keep the trend so if selling has to considered better below107.3 Buy if above 112.95 The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 109.6 with a stop at 107.8 Below 107.3 go for sell.