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14-02-2024 11:02 AM | Source: Kedia Advisory
Buy Aluminium Feb @ 199 SL 197 TGT 201-203. MCX - Kedia Advisory

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Aluminium

OBSERVATIONS:

Aluminium trading range for the day is 198.6-203.

Aluminium dropped amid a strong US dollar and China’s pessimistic industrial sentiment

Persistent macroeconomic headwinds in China, continued to hamper the outlook for metals.

Share of Russian aluminium in LME warehouses remains at 90%

BUY ALUMINIUM FEB @ 199 SL 197 TGT 201-203. MCX

 

 

Copper

OBSERVATIONS:

Copper trading range for the day is 703.1-715.9.

Copper gains as LME stocks hit the lowest level since September after 850 tons of outflows.

Yangshan copper premium declined as factories refrained from purchasing the metal

Strong labor data in the US and hawkish remarks from Fed Powell lifted the dollar.

BUY COPPER FEB @ 705 SL 702 TGT 709-712. MCX

 

Zinc

OBSERVATIONS:

Zinc trading range for the day is 203.7-211.7.

Zinc dropped as zinc inventories have rebounded recently.

LME zinc stocks have climbed by 14% over the past 10 days to a one-month high.

Weakness in the zinc market was also indicated by a discount of the LME zinc cash contract

BUY ZINC FEB @ 206 SL 204 TGT 208-210. MCX

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