Buy Aluminium NOV @ 202 SL 200 TGT 204-206. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202-205.4.
Aluminium dropped as China's October 2023 aluminum production up 6.7% YoY.
There is still great uncertainty in overseas macro front. U.S. economic data shows that the U.S. economy is resilient. China has announced to issue an additional one trillion yuan of local government bonds, which could boost the economy
China has announced to issue an additional one trillion yuan of local government bonds, which could boost the economy
BUY ALUMINIUM NOV @ 202 SL 200 TGT 204-206. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 702.6-716.8.
Copper gains amid lower inventories and signs of robust demand in the near term.
China's refined copper production in October jumped 13.3% to 11.3 million metric tons year-on-year
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 11.0 % from last Friday.
BUY COPPER NOV @ 708 SL 704 TGT 712-715. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 225.1-229.9.
Zinc prices dropped as China's refined zinc output in October, rose 11.14% month-on-month.
Inventories of zinc in LME warehouses have nearly doubled owing to large arrivals after months of dwindling stocks
The global zinc market showed a surplus of 489,000 tons during the first eight months of the year
BUY ZINC NOV @ 225 SL 223 TGT 228-230. MCX
