Aluminium futures (₹395.50/kg) are on an uptrend. On Monday, it surpassed a hurdle and the price action shows that the bulls continue to run the show.The June futures, which were consolidating in the narrow band of ₹382-388, broke out of ₹388, opening the door for further rally. We expect the contract to hit ₹400 soon. The outlook is expected to stay bullish as long as the contract remains above the 21-day moving average, which is now at ₹382.On the other hand, in case the price declines and aluminium June futures slip below the support at ₹382, the near-term outlook can turn bearish. In such a case, the price can quickly decline to ₹370, its 50-day moving average. Subsequent support is at ₹365.Nevertheless, as it stands, the bull trend is intact and even if there is a reversal or a corrective decline, we expect aluminium futures to hit ₹400 before seeing such a price dip. So, traders can retain the long position. Trade strategyLast week, we suggested initiating a long position in aluminium June futures at ₹386 with a stop-loss at ₹375. Retain this trade but revise the stop-loss higher to ₹382. Book profits at ₹400.Published on June 2, 2026