Buy Copper Aug @ 881 SL 877 TGT 885-889. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM AUG @ 254 SL 252 TGT 256-258. MCX
Observations
Aluminium trading range for the day is 250.3-257.5.
Aluminium gains amid the outlook of lower supply and improved demand from China.
Markets recalibrated their expectations of fiscal support from the Chinese government, limiting forecasts of industrial expansion.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 1.5% from last Friday.
Copper
BUY COPPER AUG @ 881 SL 877 TGT 885-889. MCX
Observations
Copper trading range for the day is 878.2-887.6.
Copper gains supported by hopes for U.S. rate cuts and persistent supply concerns.
Also helping the market were hopes for easing in a U.S.-China trade war after Trump said they were close to a trade deal.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.2 % from last Friday.
Zinc
BUY ZINC AUG @ 267 SL 265 TGT 269-271. MCX
Observations
Zinc trading range for the day is 263.4-271.2.
Zinc gains as zinc supply is tightening as Chinese smelters face pressure to cut production due to capacity outpacing demand.
However upside seen limited as demand concerns lingered as China's manufacturing activity contracted in July.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange rose 3.9% from last Friday.
