Sell Aluminium SEP @ 200 SL 202 TGT 197.5-196. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 197.4-200.6.
Aluminium gains after China moved to boost its struggling housing markets
China's July aluminium production up 1.95% YoY at 3.568 million mt.
Jan-Jul aluminium output grows 2.7% YoY to 23.676 million mt.
SELL ALUMINIUM SEP @ 200 SL 202 TGT 197.5-196. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 731.5-740.3.
Copper gains after China's move to support housing market
The global refined copper market showed a 90,000 metric tons deficit in June
Also helping risk sentiment across financial assets was China's move to boost its stock market by slashing stamp duty
SELL COPPER SEP @ 740 SL 744 TGT 735-732. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 215.3-219.1.
Zinc climbed on hopes for stronger demand from China's construction sector.
A rise in cancelled zinc warrants at nearly 20% compared with 2% last week was also supporting zinc prices.
Industrial metals markets are awaiting surveys of PMIs in China's manufacturing sector.
SELL ZINC SEP @ 219 SL 221.5 TGT 216-214. MCX
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