Aluminium trading range for the day is 199.1-202.3 - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 199.1-202.3
Aluminium gains as China's central bank to guide more financial support
Yunnan region is maintaining resumption of production.
Downstream construction on the demand side has rebounded, with positive expectations on the demand side boosted by policies.
BUY ALUMINIUM AUG 2023 @ 198 SL 196 TGT 201-203. MCX
COPPER
Observations
Copper trading range for the day is 727.4-738.9
Copper gains as China’s consumer inflation dropped 0.3% in July
Chinese authorities pledged to ramp up policy support to boost a flagging economy
China’s year-to-date copper imports slid by 10.7% to reflect a sharp downturn in demand for industrial inputs
BUY COPPER AUG 2023 @ 726 SL 722 TGT 732-736. MCX
ZINC
Observations
Zinc trading range for the day is 220-225
Zinc gains as LME cash zinc contract was at $30.25 indicating supply tightness.
Further support seen amid raising hopes for more stimulus measures from the Chinese government.
However, worries about the global economy flared up after Chinese imports and exports contracted
BUY ZINC AUG 2023 @ 219 SL 217 TGT 223-225. MCX
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