Aluminium yesterday traded with the negative node and settled -2.36% down at 112.2 amid weak trend in overseas market. China General Administration of Customs in a report released showed that the unwrought Aluminium exports declined by 45% in February 2011 on a monthly basis. The total exports in the month of February were 32589 tonnes as against 59220 tonnes in January 2011. In yesterday's trading session aluminium has touched the low of 111.95 after opening at 114.1, and finally settled at 112.2. For today's session market is looking to take support at 111.2, a break below could see a test of 110.1 and where as resistance is now likely to be seen at 114, a move above could see prices testing 115.8.

Trading Ideas:

Aluminium trading range is 110.1-115.8.

Aluminium yesterday traded with the negative node amid weak trend in overseas market

Aluminium is taking resistance at 114 and support is seen at 111.20.

Aluminium daily stocks at Shanghai exchange came down by 445 tonnes.