Head & Shoulders bottom in Aluminium Futures

Aluminium futures on MCX have broken out from head and shoulders bottom formation. The base metal futures have also completed retracement and continuation waves. The price action is bullish and seems to be heading toward measured move target of 250.

Further, if the trade on Aluminium futures is bullish, we believe National Aluminium (NSE: NATIONALUM) should follow through on bullish price action along with the base metal.