Aluminium futures (₹330/kg) has been in a downtrend for nearly a month. The sell-off was triggered at the resistance at ₹355 in mid-September.

Early last week, the contract found support at ₹333 and saw a minor uptick. But it could not gain beyond ₹342, a resistance, and declined.

While the chart shows that the downtrend is steady, the October futures has a support at ₹327. Notably, the price region between ₹325 and ₹327 is a support band.

Given the current strength of the bear trend, aluminium futures is likely to breach the base at ₹325. This can potentially open the door for a fall to ₹315. 

However, if there is a recovery on the back of the support band of ₹325-327, aluminium futures can retest the hurdle at ₹342. A breakout of this can open the door for a rally to ₹350.

Overall, the outlook remains bearish, but participants must closely watch the contract’s reaction to the upcoming support band of ₹325-327.

Trade strategy

Stay out for now. Short aluminium (Oct) futures if the price rises to ₹335. Place stop-loss at ₹342. When the price slips to ₹325 after the trade is initiated, tighten the stop-loss to ₹332. Book profits at ₹315.

Published on October 13, 2026