BUY ZINC Aug 2023 @ 219 SL 217 TGT 223-225. MCX -Kedia Advisory
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ALUMINIUM
Observations
*Aluminium trading range for the day is 198.2-203.2
*Aluminium dropped after weak trade data from China.
*Data from China showed imports and exports fell much faster than expected in July
*Supply in Yunnan increased rapidly, aluminium supply pressure may gradually emerge.
SELL ALUMINIUM Aug 2023 @ 204 SL 206 TGT 201-199. MCX
Copper
Observations
*Copper trading range for the day is 716.7-745.1
*Copper falls as dollar strengthens; new data raises China recovery worries
*Both Chinese imports and exports contracted more than expected in July
*China July copper imports slide on slow demand, high prices
BUY COPPER Aug 2023 @ 726 SL 722 TGT 732-736. MCX
Zinc
Observations
*Zinc trading range for the day is 217-226
*Zinc dropped as demand was slow amid disappointing economic recovery
*Pressure also seen weak manufacturing data and a struggling property sector in China soured sentiment.
*LME inventory continues to rebound, and fundamental weakness has become a foregone conclusion.
BUY ZINC Aug 2023 @ 219 SL 217 TGT 223-225. MCX
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