MCX Aluminium Report : 22nd January 2019

Insignia Consultants

New Delhi

Tuesday, January 22, 2019

TIME 8:10 AM IST                        

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MCX ALUMINUM REPORT

Chinese aluminum production surged to a record high in December as falling alumina boosted price margin of producers. Aluminum will trade with a softer bias unless global demand picks up.

Aluminum January 2019 (previous day close/CMP Rs.131.75)

Bullish over 133.00 with 135.50 and 138.50 as price target.

Bearish below 131.40 with 130.30 and 129.60 as price target.

Neutral Zone: 131.40-133.50

One Support: 132.20

One Resistance: 134.60

o        Small sell off will be there below 131.70.

o        Aluminum needs to trade over 132-133 zone to zoom or be in intraday bullish zone.

Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees  have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Website www.insigniaconsultants.in. Prepared by Chintan Karnani

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NOTES TO THE ABOVE REPORT

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