Traders can go short now at ₹330 and ₹332

Aluminium prices are coming down for more than a week now. The Aluminium Futures contract traded on the Multi Commodity Exchange made a high of ₹352 per kg earlier this month on March 12. From there the price has come down over 6 per cent to ₹330 per kg now per kg now. There is room to fall more. For now, this just looks like a corrective fall within the broad uptrend. We will have to wait and watch.

Outlook

The short-term picture looks weak. Key resistances are at ₹333 and ₹338. As long as the contract trades below ₹338, the downtrend will remain intact. The MCX Aluminium Futures contract can fall to ₹320-317 in the coming days.

This ₹320-317 is an important support zone. The price action in this region will need a close watch. A bounce anywhere from the ₹320-317 support zone can take the contract higher to ₹330-335 again. That in turn will keep the broader uptrend intact. An eventual break above ₹338 will then open the doors for a revisit of ₹350 levels.

On the other hand, if the contract breaks below ₹317, it will come under more selling pressure. If that happens, the MCX Aluminium Futures contract can fall further to ₹305-302 thereafter.

For now, allow for a fall to ₹320-317 and then watch the price action to see what happens.

Trade Strategy

Traders can go short now at ₹330 and ₹332. Keep the stop-loss ₹337. Trail the stop-loss down to ₹328 as soon as the contract falls to ₹326. Revise the stop-loss down to ₹325 when the price touches ₹323. Exit the shorts at ₹320.

Published on March 24, 2026