Buy Aluminium Jun @ 230 SL 228 TGT 233-235. MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 227.5-234.7.
Aluminium gains on short covering after prices dropped amid disappointing May industrial output from China.
China aluminium production up 7.2 % to 3.65 mln tonnes in May
China's May aluminium imports surge 61% year – on – year
BUY ALUMINIUM JUN @ 230 SL 228 TGT 233-235. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 847.1-861.7.
Copper gains amid concerns that Chinese smelters may reduce capacity.
Stockpiles in LME warehouses climbed to a six-month high amid a subdued demand outlook.
Inventory at LME-approved warehouses rose to 155,850 tons, pointing to lackluster demand
BUY COPPER JUN @ 850 SL 845 TGT 855-859. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 258.3-263.3.
Zinc gains as focus switched to shortages while fund buying added momentum.
In China, zinc concentrate imports decreased by 24% in the first four months of this year compared to the previous year.
There has been no recovery so far this year, output sliding another 3% year-on-year in the first quarter.
BUY ZINC JUN @ 259 SL 256 TGT 262-264. MCX
