Yes Bank Q1 Results: PAT jumps 59% YoY to Rs 801 crore, NII up 5.7%
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Economic Times
an hour ago
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Commodity Radar: Trends positive for aluminium trade. Time to accumulate for up to 6% near term upside
Technical outlook Live Events Aluminium Daily Chart Trading strategy (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Aluminium futures traded in the red on Friday amid market uncertainties after the Trump administration unveiled a range of new tariffs set to take effect in one aluminium futures were trading at Rs 249.30 around 4 pm, down Rs 1.15 or 0.46%, tracking weakness in international prices. Three-month contracts on the LME hovered around $2,565, down 1.4%.Commenting on current trends, Ajit Mishra, Senior Vice President - Research at Religare Broking, said aluminium prices have found support from an improving demand outlook in China and tightening global supply.'Market sentiment has strengthened as traders tracked progress in US-China trade talks, which could boost industrial metal demand. Confidence also rose after Beijing pledged to stabilize industrial growth, unveiling a CNY 1.2 trillion hydroelectric dam project to sustain infrastructure-led economic momentum,' he added. Aluminium has staged a strong recovery from its March lows of Rs 228 and is now trading near Rs 250. Prices are comfortably above the 50-day and 200-day moving averages, confirming bullish strength.A golden crossover (50 DMA crossing above 200 DMA) is also in place, indicating a medium-term trend reversal. However, with prices nearing key resistance at the Rs 255–257 zone (previous breakdown area), some consolidation or mild profit-booking cannot be ruled may look to accumulate on dips toward Rs 248–250, with a stop loss below Rs 241. Upside targets are placed at Rs 258 and Rs 264.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
