Aluminium Futures on MCX are currently trading in a strong uptrend on the daily chart. According to Elliott Wave analysis, the market appears to be moving in a powerful bullish Wave (3), which usually represents the strongest phase of a trend.
The ongoing structure indicates that the market is currently developing smaller impulsive waves inside the larger Wave (3). Strong momentum, steady buying interest, and limited corrections are supporting the bullish outlook.
Targets: 412 - 447
Traders may consider maintaining a stop loss below the recent important support zones, as a sustained breakdown beneath these levels could weaken the current bullish Elliott Wave structure. Short-term traders may watch the 360–365 zone, while positional traders can keep a broader stop loss below the 330 level to manage risk effectively.
The ongoing structure indicates that the market is currently developing smaller impulsive waves inside the larger Wave (3). Strong momentum, steady buying interest, and limited corrections are supporting the bullish outlook.
Targets: 412 - 447
Traders may consider maintaining a stop loss below the recent important support zones, as a sustained breakdown beneath these levels could weaken the current bullish Elliott Wave structure. Short-term traders may watch the 360–365 zone, while positional traders can keep a broader stop loss below the 330 level to manage risk effectively.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.