The price action on the weekly chart indicates that the contract is getting good support around ₹344.
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Aluminium prices have come down in the last two weeks. The Aluminium Futures contract traded on the Multi Commodity Exchange made a high of ₹359.70 per kg on August 11 and has declined from there. It is currently trading at ₹345 per kg.OutlookSince the August Futures contract is expiring in a few days, we consider the September Futures contract for the analysis here.The MCX Aluminium September Futures contract has an important support around ₹343. If the contract manages to sustain above this support and bonces back, then that will be positive. Such a bounce can take the MCX Aluminium contract (September) higher to ₹358-₹360 in the short term.On the other hand, if the contract breaks below ₹343, then a fall to ₹335 can be seen. That in turn will negate the bullish view of seeing a rise to ₹358-₹360 mentioned above.The price action on the weekly chart indicates that the contract is getting good support around ₹344. So, that leaves the bias positive to see a bounce from around ₹343 now as well.Trade strategyTraders with high-risk appetite can consider taking long positions now at ₹345. Keep the stop-loss at ₹338. Trail the stop-loss up ₹348 as soon as the contract goes up to ₹351. Move the stop-loss further higher to ₹350 and ₹352 when the price touches ₹353 and ₹354 respectively. Exit the long positions at ₹356.Published on August 25, 2026
