Aluminium May futures is now trading at ₹387/kg and Aluminium June futures is currently at ₹386/kg. Since the former is set to expire on Friday (May 29), we shall consider the June series for analysis.The June aluminium futures broke out of ₹376 a couple of weeks back and it extended the rally to hit a high of ₹388 on May 21. The price action over the past few sessions show that the contract has been consolidating in the narrow range of ₹382-387.The contract sustains above the resistance-turned-support of ₹376, where the 21-day moving average coincides. Therefore, the inclination is bullish, and the likelihood of further rally is high.We anticipate the aluminium futures (Jun) to surpass ₹387 and rally to ₹400 in the near-term. On the other hand, if the contract falls and breaches the support at ₹376, the near-term outlook can turn bearish. In such a case, the price can fall to ₹365.Trade strategyRollover the long position we suggested in May futures at ₹380. That is, exit the trade now at ₹387 and immediately go long on June futures at the current market price (now at ₹386). Target and stop-loss can be ₹400 and ₹375 respectively.Published on May 26, 2026