Buy Aluminium OCT @ 206 SL 204 TGT 209-211. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 206.5-211.9.
Aluminium eased as the outlook of a hawkish Fed lifted the US dollar and hampered industrial sentiment.
China halted the expansion of production capacity beyond the current limit of 45 million tons
The HCOB Eurozone Manufacturing PMI was confirmed at 43.4 in September 2023
BUY ALUMINIUM OCT @ 206 SL 204 TGT 209-211. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 692.7-718.1.
Copper fell amid expectations of further rises in exchange inventories
Stocks of copper in LME registered warehouses at 168,600 tons have climbed more than 200% since the middle of July
Money managers were net short 21,220 copper contracts on Sept. 26, the biggest since May 30
BUY COPPER OCT @ 702 SL 698 TGT 706-710. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 220.5-229.3.
Zinc dropped as the soaring dollar reinforced concerns about demand for industrial metals.
Zinc retreated as the market factored in increasing supplies of the metal used to galvanise steel and mounting stocks
Combined zinc inventories in LME and warehouses monitored by ShFE fell back in the second and third quarters
BUY ZINC OCT @ 222 SL 220 TGT 225-227. MCX
