Buy Aluminium Aug @ 253 SL 251 TGT 255-257. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM AUG @ 253 SL 251 TGT 255-257. MCX
Observations
Aluminium trading range for the day is 253.2-255.4
Aluminium settled flat amid the outlook of lower supply and improved demand from China.
Support also seen after Beijing's recent pledge to stabilize industrial growth, while traders monitored developments in China-U.S. trade talks.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 6.4% from last Friday
COPPER
BUY COPPER AUG @ 895 SL 890 TGT 900-905. MCX
Observations
Copper trading range for the day is 890.5-903.3.
Copper prices held firm ahead of the resumption of talks between top U.S. and Chinese officials on trade.
China faces an August 12 deadline to reach a tariff agreement with U.S. President Donald Trump's administration.
LME copper inventories rise to a one-and-a-half-month high, while SHFE copper inventories hit a nearly seven-month low.
ZINC
BUY ZINC AUG @ 266 SL 264 TGT 268-270. MCX
Observations
Zinc trading range for the day is 264.6-269.4.
Zinc dropped as investors are focused on a potential trade deal with the China ahead of a meeting scheduled between U.S. and Chinese officials.
China’s economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 8.8% from last Friday.
