12 MCX - Aluminium

Aluminium looks to be taking resistance now at 109 hence my view is purely going short on Aluminium. I will open this trade next week by going short in Alumnium at CMP with a target of 106\lower with a strict stop loss of 111.50. This is a risky call and i am going ahead with this risk.




   

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12 comments:

  1. nidhi, shall we buy above 109.50 after breaking that resistance. Or sell below 108.50 with confirming the down trend?

    ReplyDelete
  2. @ Jay - I am not posting my USDINR view here so please refer this link http://www.trendgurus.in/2012/10/forex-usdinr.html for further updates.

    ReplyDelete
  3. Aluminum is short but don't know why its taking strength on chart.

    I have shorted Aluminium @ 110.50 and holding positions with strict stop loss of 111.50. its looks to be risky but its worth taking this risk hence still holding.

    ReplyDelete
  4. Didi,
    Aluminium call is still open/active ? if open then which month future to be traded ? pls reply
    thanku

    ReplyDelete
  5. stop loss has triggered and its closed. if you want to take risk then only short otherwise leave it.

    ReplyDelete
  6. Nidhi, if possible plz share ur view on crude, is it bullish?

    ReplyDelete
  7. Aluminium may rise in the short to medium term if the below is true...

    A year later the triangle is still forming and now maybe complete in wave B Breakout is above 116 for Wave C which would have a target of 150-160 if true. 123 the previous high would be a key resistance to watch out for as well.

    ReplyDelete
  8. @ PT - Thanks for sharing your views. Can i know your name and area of expertise?

    ReplyDelete
  9. @Nidhi...I am just a novice having lost lakhs in 2008 crash after taking a personal loan investing in 2007 and still paying the price for it....sorry, I just posted the views from reliable sources.....I am dying to learn Technical Analysis but yet is unable to learn anything useful....Your service is impeccable....Kindly suggest some books or sources to self-learn with ease from scratch.....

    ReplyDelete
  10. @Pt
    just send one email to me ([email protected]) as test mail for sharing of useful information. i think that may help you lot.
    thanks

    ReplyDelete
  11. @ Varun - Appreciate your help...If you can share that useful information to me at my email address i.e. [email protected] and i will post the same on this portal. This will sure help all others following us. Lets join our hands and help each other.

    ReplyDelete

Thanks for giving your valuable inputs, TRENDGURUS

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