Buy Zinc Feb 2021 @ 226.50 SL 224.50 TGT 229.00-230.80.MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
COPPER
Copper trading range for the day is 647-664.
Copper prices on MCX trading at all-time high amid brightening demand prospects and supply concerns underpinning the market.
U.S. data, including retail sales, signs that the Federal Reserve will maintain its accommodative stance
Hopes for further U.S. stimulus bolstered expectations of a swift global recovery from the pandemic
Warehouse stock for Copper at LME was at 76025mt that is down by -150mt.
BUY COPPER FEB 2021 @ 644.00 SL 640.00 TGT 650.00-654.00.MCX
ZINC
Zinc trading range for the day is 225.9-238.7.
Zinc prices gained amid renewed optimism for an acceleration in global economic growth.
In addition, orders for iron towers, scaffolds and photovoltaics are expected to be robust, which will also lend support to zinc prices.
US retail sales, industrial output and producer prices data provided robust surprises to the upside, signaling the economic recovery
Warehouse stock for Zinc at LME was at 279850mt that is down by -1500mt.
BUY ZINC FEB 2021 @ 226.50 SL 224.50 TGT 229.00-230.80.MCX
NICKEL
Nickel trading range for the day is 1349-1409.8.
Nickel gained driven by low inventories and expectations of higher industrial demand on the back of stimulus and vaccine-fueled economic recovery.
Production guidance from the top 25 copper producers indicates the market may be in a sizable deficit this year.
Nickel inventories in LME registered warehouses will help to meet battery demand, but concern over shortages supporting prices.
Warehouse stock for Nickel at LME was at 249510mt that is unchange mt.
BUY NICKEL FEB 2021 @ 1356.00 SL 1348.00 TGT 1368.00-1374.00.MCX
ALUMINIUM
Aluminium trading range for the day is 170.7-174.5.
Aluminium gained driven by a recovery in demand particularly in the automotive, packaging and construction sectors from the Covid-19 hit.
Meantime, the Biden administration kept a tariff rate of 10 percent on aluminum imports from the United Arab Emirates.
Economic data showed that retail sales increased by 5.3% in January, the biggest increase in seven months.
Warehouse stock for Aluminium at LME was at 1360850mt that is down by -4525mt.
BUY ALUMINIUM FEB 2021 @ 171.20 SL 169.50 TGT 173.00-174.20.MCX
To Read Complete Report & Disclaimer Click Here
Views express by all participants are for information & academic purpose only. Kindly read disclaimer before referring below views. Click Here For Disclaimer
