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Near-term view negative for MCX-Aluminium

Gurumurthy K
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The Aluminium futures contract on the Multi Commodity Exchange has reversed sharply lower after rising initially in the past week. The contract touched a high of ₹125.5 a kg on Wednesday and has come off sharply from there. It has tumbled over 3 per cent from this high and is currently trading near ₹121.5. The near-term outlook is negative with a key resistance at ₹122. As long as it stays below ...
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