Aluminium futures (₹352/kg) tumbled 5 per cent on Monday. While the major trend has not reversed, for the short-term we are likely to see the price moderate further.The June futures, now trading at ₹352, have a support ahead at ₹350. On the back of this, the contract might see a minor rally, possibly to ₹365-370 price band. Post this move, the downtrend is likely to resume.So, either from the current level itself or after a minor rally, aluminium futures are set to break below ₹350 and fall to ₹330 in the near-term. Support below ₹330 is at ₹320. On the other hand, if aluminium futures can reclaim ₹370, the uptick can extend to ₹380. But given the prevailing price action, a rise above ₹370 is unlikely.Trade strategySince there is a support ahead at ₹350 and that the risk-reward ratio is unfavourable for fresh short positions now at ₹352, we suggest staying out.Go short when aluminium futures rise to ₹365. Target and stop-loss can be ₹330 and ₹380, respectively.Instead, if the contract breaches the ₹350 without a corrective rise, initiate a short with stop-loss at ₹360 for a target of ₹330.Published on June 16, 2026