Aluminium Breaking out of the Long term Trend Line Resistance.. Our Aluminium BUY Call 89c1 Advised for 2 lot at 126.05 Achieved 1st Target 126.65. CMP 126.70. Total 0.65 x 2 = 1.30 Points Profit
Aluminum is just breaking out of the long term trend line resistance and is providing a good opportunity to go long in the medium term. While the close in the monthly charts is crucial for confirmation of the trend, we expect markets to remain on a bullish note, especially since prices are moving up from multi year lows. To be precise the lowest levels since 2009 when prices made a low of $1279 reeling under the impact of financial crisis. As such we expect that the short to medium term outlook is looking bullish from a technical perspective. Traders can prefer longs as suggested in the attached excel sheet with probable targets lying around 135 and 150 levels, which can be achieved within the next 3 odd months.
CALL ID 89c1 : Aluminium Call – BUY 2 lot Aluminium at CMP 126.05 for Target 126.65 – 127.15 with SL below price 125.15