BUY COPPER FEB @ 1230 SL 1220 TGT 1240-1250. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM FEB @ 311 SL 309 TGT 313-315. MCX
Observations
Aluminium trading range for the day is 309.5-313.7.
Aluminium dropped as inventory pressure is gradually increasing, and the peak social inventory.
However downside seen limited as tightening global supply coincided with growing demand.
Global primary aluminium output in December rose 0.5% year on year to 6.296 million tonnes – IAI
Copper
BUY COPPER FEB @ 1230 SL 1220 TGT 1240-1250. MCX
Observations
Copper trading range for the day is 1219.4-1255.2.
Copper fell amid rising inventories and muted trading activity ahead of the Lunar New Year break in China.
Copper stocks in LME-registered warehouses are at 189,100 tons, their highest since May.
Inventories in warehouses monitored by the SHFE rose to 248,911 tons of copper, their highest since March.
Zinc
BUY ZINC FEB @ 325 SL 323 TGT 328-330. MCX
Observations
Zinc trading range for the day is 319.8-329.
Zinc prices dropped as sluggish demand continued to test investors' risk appetite.
Demand has eased after Chinese downstream buyers wrapped up pre–Lunar New Year restocking.
China's central bank promises financial support to boost domestic demand
