02 JULY 2012NDTV PROFIT
MCX Aluminium settled at Rs 104.6 per kg on 27th June
Edited by : AL CIRCLE
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MCX Aluminium recovered earlier losses and surged by 1.1% or Rs 1.15 at Rs 104.6 per kg on Wednesday, 27th June and tested an intraday high at Rs 104.85 per kg and low at Rs 102.7 per kg. Bargain hunting with 35% rise to 6117 lots favored the metal to end with huge single day gains but found to be still below 9-day EMA with its RSI at 31.77. Aluminium is likely to find support at Rs 104 per kg and Rs 103.3 per kg and resistance at Rs 104.9 per kg and Rs 105.7 per kg. At LME, Aluminium edged down by 0.1% at $1849 per tonne on Wednesday. The looming EU summit hammered the metal but the tentative data from the US that showed rise in its housing data and durable goods orders curbed huge losses in the metal.
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