The global aluminum market was in a 156,000 metric ton surplus in the first month of 2010, the World Bureau of Metal Statistics said.  Aluminium has touched a low of Rs 101.8 a kg after opening at Rs 101.9, and last traded at Rs103.25.For today market is looking for the support at 102.3, a break below could see a test of 101.3 and where as resistance is now likely to be seen at 103.8, a move above could see prices testing 104.4.

Trading Ideas:

Aluminium trading range is 101.3-104.4.

The global aluminum market was in a 156,000 metric ton surplus

Support for aluminium is at 102.30 and resistance is at 103.80 level.

Aluminium daily stock at Shanghai exchange yesterday came up by 18119 tonnes.

BUY ALUMINIUM MAR @ 101.60 SL 100.70 TGT 102.60-103.20-104.MCX