Thursday, 16 February 2012

MCX Aluminium News




MCX Aluminium dropped to a 5-week low at Rs 107.7 per kg, down 0.7% or Rs 0.8 and tested a high of Rs 109.2 per kg and low at Rs 107.45 per kg on Wednesday, 15th February. 

The open interest added 7% to 3126 lots indicating short selling and volume traded stood at 7103 lots compared to 9193 lots traded last day. 

At MCX Aluminium was the only metal managed to stay higher by 0.5% at $2216.5 per tonne on Wednesday. The sanguine comments by the China governor that it stretched their hands to support the euro zone economies buoyed the sentiment. 

Aluminium at MCX is likely to find support at Rs 107.3 per kg to Rs 106.4 per kg and resistance at Rs 108.7 per kg and Rs 109.5 per kg on Thursday, 16th February. 

www.goldennifty.com




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