MTECHTIPS MCX ALUMINIUM INTRADAY trading tips 04-11-2016
MTECHTIPS MCX Aluminium is in perfect uptrend .Currently Aluminium is in strong 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 showing BUY signal For short term The current position is BUY .Positionally Support for the Aluminium is 114-112-111-110-109-. Immediate resistance for Aluminium is 116
Short term and Intraday Level of ALUMINIUM
Currently Aluminium is in HOLD SHORT position Aluminium is in profit booking mode so hold with stop at 114 The Aluminium is now trading is approaching overbought level. The oscillator is on SELL signal and Aluminium is coming down from overbought level
Intraday Trend- Buy is advised only above 116.3 with a stop at 114.5 Below 114.1 go for sell and put stop at 115.9.