Buy Aluminium NOV @ 273 SL 271 TGT 275-277. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM NOV @ 273 SL 271 TGT 275-277. MCX
OBSERVATIONS
Aluminium trading range for the day is 271.8-275.8.
Aluminium prices gained buoyed by hopes that the U.S. government shutdown may end soon.
Support also seen helped by prospects of improved demand and limited output growth in China.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 0.2% from last Friday.
Copper
BUY COPPER NOV @ 1010 SL 1004 TGT 1016-1022. MCX
OBSERVATIONS
Copper trading range for the day is 1002-1018.8.
Copper climbed amid optimism that the historic US government shutdown may soon end.
Trump administration added 10 minerals to its list of materials critical to the US economy and national security, including copper.
Speculation also grew that Beijing could target the copper refining industry next in its efforts to curb overcapacity.
Zinc
BUY ZINC NOV @ 304 SL 302 TGT 306-308. MCX
OBSERVATIONS
Zinc trading range for the day is 301.3-307.3.
Zinc gains after October data from China signalled easing deflation and lifted confidence in economic recovery.
The producer price index in October fell 2.1% year-on-year, easing from a 2.3% decline in September.
United States Senate were close to pass a bill to fund the government through January 2026, ending the record-breaking shutdown.
