Buy Aluminium Feb @ 200 SL 198 TGT 202-203. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS:
Aluminium trading range for the day is 199.3-202.5. Aluminium dropped as traders gauged the lack of fresh market-moving catalysts China's export of aluminium covered by EU carbon tax down 30% in 2023 Japan's imports of primary aluminium fell 26% to 1.03 million metric tons in 2023
BUY ALUMINIUM FEB @ 200 SL 198 TGT 202-203. MCX
Copper
OBSERVATIONS:
Copper trading range for the day is 705.9-720.1. Copper dropped due to strength in the dollar and pessimistic industrial sentiment in China. 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 @ 710 SL 706 TGT 714-718. MCX
Zinc
OBSERVATIONS:
Zinc trading range for the day is 213.3-218.5. Zinc dropped as an economic and demand slowdown in China pressured prices. Chinese manufacturing PMI data showed a fourth consecutive contraction in the sector, hampering the prices. Caixin China General Manufacturing PMI unexpectedly showed growth in factory activity for the third straight month.
BUY ZINC FEB @ 214 SL 212 TGT 216-218. MCX
