BUY ALUMINIUM MAR @ 344 SL 341 TGT 347-350. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM MAR @ 344 SL 341 TGT 347-350. MCX
Observations
Aluminium trading range for the day is 342.3-351.9
Aluminium fell as the dollar strengthened on fading prospects for more U.S. rate cuts.
However, downside seen limited amid shipping disruption in the war-hit Middle East.
LME aluminium stocks slipped to 445,300 tons, the lowest since July.
Copper
SELL COPPER MAR @ 1195 SL 1205 TGT 1182-1172. MCX
Observations
Copper trading range for the day is 1173.1-1209.3.
Copper fell as the dollar strengthened above 100 level amid the ongoing war in the Middle East and surging oil prices.
Heightened forward-looking inflation risks dampened expectations for Federal Reserve rate cuts.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange rose 2.0 % from last Friday.
Zinc
SELL ZINC MAR @ 326 SL 329 TGT 323-320. MCX
Observations
Zinc trading range for the day is 322.4-326.6.
Zinc dropped as inventories in warehouses monitored by the Shanghai Futures Exchange rose 9.2%
Dollar strengthened above 100 levels amid heightened uncertainty surrounding the US-Iran conflict.
However downside seen limited amid a low inventories and mine closures, delays underpinned prices.
