Aluminium prices have recovered well over the last one week. The Aluminium Futures contract traded on the Muti Commodity Exchange (MCX) touched a low of ₹325 per kg in the beginning of this month. From there it has risen over 5 per cent. The contract is currently trading at ₹343 per kg.OutlookThe recent rise looks just like a corrective bounce within the broader downtrend. Immediate support is in the ₹340-₹335 region. As long as the contract trades above this support zone, more rise is possible. The MCX Aluminium Futures contract can rise to ₹350-₹352 from here.The price action thereafter will need a close watch. The region between ₹350 and ₹352 is a good resistance zone where the corrective rise can halt. A reversal from this resistance zone can drag the MCX Aluminium contract down to ₹345 initially. A further break below ₹345 will then increase the danger of the fall extending to ₹325 in the coming weeks.In case the contract manages to breach ₹352, an extended rise to ₹356 is possible.Trade StrategyTraders with high-risk appetite can consider going long now at the current levels of ₹343. Accumulate on dips at ₹341. Keep the stop-loss at ₹338. Trail the stop-loss up to ₹345 as soon as the contract goes up to ₹347. Revise the stop-loss higher to ₹346 when the price touches ₹349. Exit the long positions at ₹350.Published on July 14, 2026