Buy Aluminium Oct @ 236 SL 234 TGT 238-240. MCX - Kedia Advisory
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ALUMINIUM
Observations
Aluminium trading range for the day is 233.4-244.6.
Aluminium dropped as global aluminium output rises 1.3% yearon year in September
However downside seen limited amid rate cuts China andexpectations of further stimulus to spur economic growth.
Hydropower supply in the southwestern Yunnan provinceremained sufficient amid improved rainfall during the summerseason
BUY ALUMINIUM OCT @ 236 SL 234 TGT 238-240. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 801.2-839.
Copper dropped as dollar index approached 103.8 close to highlevels not seen since early August.
China’s central bank reduced benchmark lending rates torecord lows, boosting the economic outlook.
Expectations of strong copper demand driven by the shift towardcleaner energy raised concerns about a shortfall
BUY COPPER OCT @ 812 SL 808 TGT 816-820. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 278.9-292.1.
Zinc dropped on profit booking as hopes for a swift decrease ininterest rates by the Fed diminish.
China’s economy grew more than expected in the third quarter,but at the slowest pace since the first quarter of 2023.
PBOC moved to support China’s equity market and announcedthat it could lower banks’ reserve requirements again before theyear ends
BUY ZINC OCT @ 283 SL 281 TGT 285-287. MCX
