Aluminium futures (₹385/kg), after hitting a high of ₹397.10 on June 3, saw some moderation in price. They are now hovering around ₹385 where the 21-day moving average lies.

The June futures slipped to mark a low of ₹382.15 on Monday. Thus, the long position that we had recommended marginally survived from the stop-loss at ₹382.

Despite the recent price correction, aluminium futures maintain the positive outlook since ₹382 is a support. We expect the bulls to regain traction and push the price higher in the upcoming sessions. The contract can touch ₹400.

On the other hand, if aluminium futures breache the support at ₹382, the downswing could extend to ₹375, its 50-day moving average. A breakdown below this level can turn the outlook bearish. Nearest support below ₹375 is at ₹365.

That said, as it stands, we continue to hold a positive outlook. 

Trade strategy

We had suggested buying aluminium futures (Jun) at ₹386 before a couple of weeks ago. Retain this trade and maintain stop-loss at ₹382. Book profits at ₹400.

Published on June 9, 2026