MTECHTIPS MCX ALUMINIUM INTRADAY trading tips 21-10-2016
MTECHTIPS MCX Aluminium is bearish for medium-long term .Currently Aluminium is in strong downtrend with good momentum and the trend is supported with good volume The open interest is not increasing with trend .. 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 107.Resistance for the Aluminium is 109-110-111-
Short term and Intraday Level of ALUMINIUM
Currently Aluminium is in HOLD SHORT position The Aluminium is in downtrend For short term buy only if close above 110.0 The Aluminium is now trading in highly oversold level. The oscillator is showing SELL signal
Intraday Trend- Buy is advised above 108.8 with a stop at 107 Below 106.6 go for sell.