Buy Copper AUG @ 734 SL 729 TGT 740-745. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 196.8-201.
Aluminium dropped as inventories LME climbed to the highest in more than a month
Rising inventories can indicate the market has surplus metal and investors have been concerned about tepid demand in China
China’s aluminum ingots social inventory declined to nearly 500,000 mt.
BUY ALUMINIUM AUG @ 197 SL 195 TGT 200-202. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 731.6-743.4.
Copper gains as demand prospects from China improved
Copper stockpiles monitored by the three major futures exchanges are just above a 15-year low at 170,000 tonnes.
The downturn in euro zone business activity has deepened more than expected this month
BUY COPPER AUG @ 734 SL 729 TGT 740-745. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 210.3-213.5.
Zinc gains amid China's policy measures aimed at supporting economic recovery
The interest rate reductions orchestrated by PBOC, coupled with a gradual revival of domestic demand, also provided some support.
Citibank has bought large amounts of zinc on the London Metal Exchange
BUY ZINC AUG @ 210 SL 207 TGT 213.5-215. MCX
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