AHMEDABAD (Commodity Online): Aluminum July jumped 0.84% in the opening session due to strong Euro against Dollar and by afternoon lower LME stocks pulled up the commodity and made a 96.4 which is 8 weak high.
Aluminum opened at 95.6 which is Rs 0.15 high of yesterday close in MCX. Total volume for the day is 2580 lots and open interest is around 1877 at 5 p.m. Today LME recorded a negative stock of -4650 tonnes.
“Technically, one can long Aluminum at 95 with a stop loss of 94 for target of 97,” said Hardik Shah, Sr. Commodity Analyst with Commodity Online.
