Buy Aluminium NOV @ 204 SL 202 TGT 206-208. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 202.6-207.
Aluminium climbed as firm demand in China and lower inventories in LME approved warehouses.
Stocks of aluminium in LME warehouses at 480,250 tons have dropped nearly 20% since early June
China's aluminum ingot inventory was at 623,000 mt, down 7,000 mt from October 23 and 3,000 mt from October 19.
BUY ALUMINIUM NOV @ 204 SL 202 TGT 206-208. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 697.4-713.2.
Copper gains on some upbeat signs of recovery in consumer China
Profits at China’s industrial firms extended gains for a second month in September, adding to signs of a stabilising economy
Shanghai warehouse copper stocks down 37.5%
BUY COPPER NOV @ 703 SL 698 TGT 708-712. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 219.4-223.4.
Zinc gains amid renewed stimulus measures from the Chinese government easing concerns
The U.S. GDP surged by 4.9% year-on-year in the third quarter, with the economy growing at the fastest rate in the past two years.
Beijing stated it would widen its budget for the year to borrow an extra CNY 1 trillion and focus on manufacturing investments
BUY ZINC NOV @ 220 SL 218 TGT 222-224. MCX
