MCX Aluminium suffers profit booking at higher levels

AHMEDABAD （Commodity Online）: MCX Aluminium Jan contract has touched a low of Rs 110.95 a kg after opened at Rs 111.35, and finally settled at 112, and today MCX Aluminium Jan contract suffer some profit booking at higher levels so it may go down and can test levels of 111 and 110.1.

For today MCX Aluminium Jan contract is looking for the support at 111.1, a break below could see a test of 110.1 and where as resistance is now likely to be seen at 112.8, a move above could see prices testing 113.6.

Intraday traders can sell MCX Aluminium Jan contract near 111.85 with the stop loss of 112.6 and can wait for the targets of 111 and 110.1, said Tarang Parmar, research analyst with Commodity Online.