Buy Copper Aug 2023 @ 735 SL 730 TGT 742-748. MCX - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 196.1-202
Aluminium price rises on China stimulus pledge
Higher production in China drove global aluminium output up 1.8% in H1
The world economy is expected to expand by 3% in 2023, which has been revised upwards from the April assessment's 2.8% growth
BUY ALUMINIUM Aug 2023 @ 198 SL 196 TGT 201-203. MCX
COPPER
Observations
Copper trading range for the day is 729.6-747.4
Copper gains on China stimulus pledge
Beijing recently announced plans to bolster economic policy adjustments, with a focus on expanding domestic demand.
Copper output in top producer Chile declined by 14% year-on-year, signaling potential supply constraints
BUY COPPER Aug 2023 @ 735 SL 730 TGT 742-748. MCX
ZINC
Observations
Zinc trading range for the day is 214-222
Zinc gains with reinforced Chinese stimulus hopes
Global zinc market surplus falls to 53,000 metric tons in May – ILZSG
China's top leaders signalled there would be more to come for the property sector that consumes a vast amount of metals.
BUY ZINC Aug 2023 @ 217 SL 215 TGT 219.5-221. MCX
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