Buy Aluminum Jul @ 329 SL 326 TGT 332-335 MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM JUL @ 329 SL 326 TGT 332-335. MCX
Observations
Aluminium trading range for the day is 325.6-336.8.
Aluminium rose supported by a weaker dollar and easing concerns over an imminent U.S. interest rate hike.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.4% from last Friday.
Citi sees aluminium prices bottoming over coming month, $3,300 – 3,500/t during Sept – Dec
Copper
BUY COPPER JUL @ 1280 SL 1270 TGT 1290-1300. MCX
Observations
Copper trading range for the day is 1274.3-1294.7.
Copper gained supported by a weaker dollar and continuing outflows from stocks of the LME and SHFE.
PMI data showed factory activity in China grew for a seventh straight month in June.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 9.6% from last Friday
Zinc
BUY ZINC JUL @ 365 SL 362 TGT 368-371. MCX
Observations
Zinc trading range for the day is 359.5-370.5.
Zinc gained supported by signs of strength in the manufacturing sector.
Data released by China, Europe, and the U.S. showed manufacturing strength despite higher input prices.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 2.2% from last Friday.
