Buy Copper Aug @ 797 SL 793 TGT 802-806. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 215.3-222.3.
Aluminium gains amid encouraging U.S. data that allayed fears of an imminent recession in the economy.
China July aluminium output rises to highest monthly total in over 20 yrs
Positive U.S. retail sales and jobs data eased worries about a potential recession in the country.
BUY ALUMINIUM AUG @ 218 SL 216 TGT 220-222. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 789.7-808.9.
Copper rose as a strike in BHP’s Escondida copper mine in Chile threatened to disrupt more than 5% of global supply.
Other copper mines in Chile have also yet to finalize wage negotiations, raising risks of a supply deficit.
Data showed that China’s industrial production rose less than anticipated in July.
BUY COPPER AUG @ 797 SL 793 TGT 802-806. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 256-266.4.
Zinc gains as Shanghai warehouse zinc stocks down 9.3%
Support also seen as buying was triggered by expectations of higher energy costs
MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work.
BUY ZINC AUG @ 260 SL 257 TGT 263-265. MCX
