Aluminum futures expected to fall down the line

MCX Aluminium March contract yesterday traded with the positive node and settled 0.82% up at 116.4 as unrest in Middle East and North Africa and stronger US dollar dampened investor confidence.

In yesterday's trading session MCX Aluminium March contract has touched the low of 114.45 after opened at 115.35, and finally settled at 116.4.

For today's session Aluminium futures is looking to take support at 113.7, a break below could see a test of 117.9 and where as resistance is now likely to be seen at 117.1, a move above could see prices testing 117.8.

Aluminium futures trading range is 111.7-117.8.

Short term traders can sell MCX Aluminium March contract near 114.5 with the stop loss of 116.90 and can wait for the targets of 111.7 and 109.8.