Aluminium futures are now trading at ₹354 (per kg). While the price movement has largely been flat over the last week, there was a sharp drop in price on April 1, but recovered on the same day.

The April futures slipped to a low of ₹329.60 on April 1. However, it recovered the same day, closing the session at ₹355.65. Barring this temporary blip, over the past week, the contract has largely been oscillating between ₹350 and ₹358.

That said, the broader price action shows that aluminium futures retain a bullish bias. We expect the contract to break out of the hurdle at ₹358 and rally to ₹380.

On the other hand, if there is a decline in price, aluminium futures can find support at ₹350 and ₹340. Subsequent support is at ₹330. Only a breach of ₹330, will turn the outlook bearish.

Overall, the outlook is positive. An eventual breakout of ₹358 can lead to a rally to ₹380. 

Trade strategy

We had suggested buying aluminium futures if there was a decline to ₹340. Traders who executed this trade can retain it. But revise the stop-loss from ₹325 to ₹340. When the contract surpasses ₹360, revise the stop-loss to ₹348. Exit at ₹380.

Published on April 7, 2026