Buy Aluminium Jan @ 197 SL 195 TGT 199-201. MCX - Kedia Advisory
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ALUMINIUM:
OBSERVATIONS:
Aluminium trading range for the day is 196.2-199.8.
Aluminium dropped as LME stocks have jumped by 25% since Dec. 14
China's aluminium imports rose by 28% year on year to 3.1 million tonnes in 2023.
China missed forecasts for economic growth while sales in the debt-heavy property sector continued to decline
BUY ALUMINIUM JAN @ 197 SL 195 TGT 199-201. MCX
COPPER:
OBSERVATIONS:
Copper trading range for the day is 707.9-718.7.
Copper settled flat due to a strong dollar and muted demand.
Slower growth figures from China and hesitation to deliver stimulus measures have impacted demand.
Copper stocks at Chinese warehouses have risen by nearly 40% since the start of the year.
BUY COPPER JAN @ 711 SL 707 TGT 715-719. MCX
ZINC:
OBSERVATIONS:
Zinc trading range for the day is 217-222.2
Zinc dropped due to uncertainty over interest rate cuts and China's economic recovery.
Concerns about China's economy were fueled by disappointing data and delayed interest rate cuts by the Fed.
China's economic growth slightly missed forecasts, with alarming numbers in the property sector.
BUY ZINC JAN @ 219 SL 217 TGT 222-224. MCX
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