Buy Aluminium Jul @ 232 SL 230 TGT 235-237. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 231-237.2.
Aluminium gains as aluminum operating capacity in Yunnan, Sichuan, and Guizhou still awaiting resumption.
Support also seen as sentiment was lifted by China's central bank's reinforcement of its easing monetary stance.
The China’s central bank reiterated its commitment to a supportive monetary policy stance to bolster economic stability.
BUY ALUMINIUM JUL @ 232 SL 230 TGT 235-237. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 859.3-889.7.
Copper gains with support from a softer dollar, hopes of U.S. rate cuts.
Support also seed amid stimulus measures and improving physical demand in China.
Copper inventories in warehouses monitored by SHFE rose 0.7 % from last Friday.
BUY COPPER JUL @ 870 SL 865 TGT 876-882. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 273.1-278.5.
Zinc gains as MMG halts zinc concentrate output at Dugald River mine
Investors assessed the impact that incoming stimulus from Beijing.
LME zinc inventories rebounded 9% to their highest level in nearly three months.
BUY ZINC JUL @ 274 SL 271 TGT 278-280. MCX
