Buy Aluminium Feb @ 251 SL 249 TGT 253-255. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 251 SL 249 TGT 253-255. MCX
Observations
Aluminium trading range for the day is 249.3-254.7.
Aluminium prices gained amid concerns over supply disruptions.
The European Commission's proposal to ban Russian primary aluminium imports has fueled bullish sentiment.
The official manufacturing PMI in China pointed to a sharp contraction in activity during January
Copper
BUY COPPER FEB @ 830 SL 826 TGT 835-838. MCX
Observations
Copper trading range for the day is 824.1-838.5.
Copper gains as investors waited to see whether U.S. President Trump would following through with his threat to impose tariffs.
Traders also adopted a cautious stance ahead of the February 1 deadline for the first round of US tariffs targeting China.
Data showed that Chinese manufacturing activity unexpectedly contracted in January.
Zinc
BUY ZINC FEB @ 266 SL 264 TGT 268-270. MCX
Observations
Zinc trading range for the day is 263-271.4.
Zinc gains amid supply concerns as global mined zinc production fell for the third consecutive year in 2024.
However upside seen limited as the pessimistic demand backdrop momentarily outweighed the trend of lower supply.
LME zinc total stocks were at the lowest since February 2024.
