Aluminium futures (₹351/kg) has moved up after forming a higher base last week. The prevailing chart set up hints at further rally from the current level.The September contract formed a support at ₹342 over the last week. At this level, the 50-day moving average and a rising trendline coincides, making it a considerable base.On the back of this support, the contract has inched up in the last few sessions, indicating that the bulls are gaining traction. We expect aluminium futures to gain further and rise to ₹358-360 price band. A breakout of ₹360 can lift the contract to ₹370.However, if the contract declines from the current level of ₹351, it can find support at ₹342. So long as this level holds, the uptrend will remain valid. But a breach of this can turn the outlook bearish.A breakdown below the support at ₹342, the contract can see a quick fall to ₹335, a support. Subsequent support is at ₹327.Nevertheless, overall, the uptrend is intact and the probability of a rally from the current level is high.Trade strategyWe had suggested buying aluminium futures at ₹345 with a stop-loss at ₹338. Retain this trade. But raise the stop-loss from ₹338 to ₹348.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 September 8, 2026