Golden Investment Research Private Limited
MCX Aluminium
Date : 07.02.2012
MCX Aluminium for delivery in February shed by 0.8% or Rs 0.85 to Rs 108.15 per kg with its high at Rs 109.45 per kg and low at Rs 108 per kg on Monday, 6th February. The open interest added 3.9% to 2739 lots indicating short selling and volume traded stood at 7671 lots compared to 164 lots traded last day. The contract traded below 100-day EMA and RSI stood at 36.27.
At LME, Aluminium lost 0.7% at $2240 per tonne on Monday. The talks between Greek political party leaders, that had been due to take place on Monday, were pushed back to Tuesday to allow the Greek prime minister to meet with creditors. The extension of these talks spooked investors regarding the countrys second bailout fund due to be obtained by March 20th.
Aluminium at MCX is likely to find support at Rs 107.6 per kg to Rs 107 per kg and resistance at Rs 108.8 per kg and Rs 109.6 per kg on Tuesday, 7th February.
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