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 272.8-274.4.
Aluminium gains after China unveiled more measures to support growth
Support also seen helped by prospects of improved demand and limited output growth in China.
Commerzbank revises forecast for aluminium upward to $2,900 per ton (previously $2,600)
COPPER
BUY COPPER NOV @ 1004 SL 997 TGT 1012-1016. MCX
OBSERVATIONS
Copper trading range for the day is 1002.4-1016.8.
Copper dropped on profit booking after prices gained as a potential resolution to the U.S. federal government shutdown lifted market sentiment.
Copper production from Chilean state-run miner Codelco slid more than 7% in September.
Commerzbank raises year-end copper price forecast from $9,600 to $10,500 per ton
ZINC
BUY ZINC NOV @ 303 SL 301 TGT 306-308. MCX
OBSERVATIONS
Zinc trading range for the day is 301.2-306.2.
Zinc eased as soft manufacturing PMIs in China and the US pressed against industrial sentiment.
October data from China signalled easing deflation and lifted confidence in economic recovery
Commerzbank revises forecast for zinc to $3,000 per ton (previously $2,800)
