Buy Aluminium Feb @ 198 SL 196 TGT 200-202. MCX - Kedia Advisory
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ALUMINIUM
observation
Aluminium trading range for the day is 196.1-203.7.
Aluminium settled flat after seen supported on concern about supplies
China announced its biggest cut in the benchmark mortgage rate to support the struggling property market.
Aluminium stocks at three major Japanese ports rose 5.8% to 332,900 metric tons
BUY ALUMINIUM FEB @ 198 SL 196 TGT 200-202. MCX
COPPER
Observation
Copper trading range for the day is 722.6-731.6.
Copper rose amid hopes that China economic support will spur demand
Beijing extended a series of economic support measures to spur economic activity and counter the contractionary manufacturing activity
Copper market in 20,000 metric tons surplus in Dec 2023 – ICSG
BUY COPPER FEB @ 724 SL 720 TGT 728-732. MCX
ZINC
Observation
Zinc trading range for the day is 211.7-215.7.
Zinc gains after China's efforts to boost its economy and property sector.
China announced its biggest reduction in the benchmark mortgage rate, as authorities sought to prop up the struggling property market.
Russian new Ozernoye mine has delayed the start of zinc concentrate production until at least the third quarter of 2024.
BUY ZINC FEB @ 212 SL 210 TGT 214-216. MCX
