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05:56
Niva Capital Advisory
ALUMINIUM MCX
Analyzing the weekly chart of Aluminum futures, here too sharp gains were seen last week, after prices broke‐out from a
consolidation phase & also breached its 2‐week high of 104. On the indicators: 14‐week RSI istrading above 50 & also above its
moving average, but below the resistance line while momentum indicator MACD & its deviation line are trading below the mid‐
zero line, with decreasing negative difference between the two (both indicators are trading around crucial resistances, asseen
on chart). On moving averages: prices are trading above their 10‐week & 20‐week simple moving average’s(SMA’s) with short‐
termSMA trading below the long‐termSMA, giving no clear direction on the trend.
Forthe nearterm, we advise to trade on the basis ofmomentumwith support at 103.5. Buy on dipsto 105,targeting 109&115,
with Stop below 103.5.
FOR MORE TIPS CONTACT NIVA CAPITAL ADVISORY OR VISIT www.nivaca.com
PHONE NUMBER:- +91 9036055-100/200/300
Analyzing the weekly chart of Aluminum futures, here too sharp gains were seen last week, after prices broke‐out from a
consolidation phase & also breached its 2‐week high of 104. On the indicators: 14‐week RSI istrading above 50 & also above its
moving average, but below the resistance line while momentum indicator MACD & its deviation line are trading below the mid‐
zero line, with decreasing negative difference between the two (both indicators are trading around crucial resistances, asseen
on chart). On moving averages: prices are trading above their 10‐week & 20‐week simple moving average’s(SMA’s) with short‐
termSMA trading below the long‐termSMA, giving no clear direction on the trend.
Forthe nearterm, we advise to trade on the basis ofmomentumwith support at 103.5. Buy on dipsto 105,targeting 109&115,
with Stop below 103.5.
FOR MORE TIPS CONTACT NIVA CAPITAL ADVISORY OR VISIT www.nivaca.com
PHONE NUMBER:- +91 9036055-100/200/300
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