Aluminium futures was up 3.1 per cent on Monday. This led to the breakout of a range and this has opened the door for further gains.

The April contract, which was oscillating between ₹350 and ₹358 since the beginning of this month, surpassed the barrier at ₹358 on Monday and ended the session at ₹368.75.

While there is a chance for a corrective dip from the current level, possibly to ₹365, the April futures is likely to extend the rally to ₹380. A breakout of this can take the contract to ₹400.

On the other hand, if aluminium April futures slips below ₹365, it can drop further to retest ₹350. A breakdown below ₹358 can turn the outlook weak, possibly leading to a quick fall to ₹345, its 21-day moving average.

 Overall, the outlook remains positive, and the price action conforms to the same.

Trade strategy

We recommended buying aluminium futures at ₹340 a couple of weeks back. Retain this trade but raise the stop-loss from ₹340 to ₹355. Book profits at ₹380.

Published on April 14, 2026