Buy Copper Feb @ 720 SL 716 TGT 724-728. MCX - Kedia Advisory
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ALUMINIUM:
OBSERVATIONS:
Aluminium trading range for the day is 196-207.2.
Aluminium gains on hopes that China would unleash more stimulus to boost its economy.
Global aluminium output rises 2.1% year on year in December – IAI
China's imports of aluminium jumped 28% in 2023
BUY ALUMINIUM FEB @ 201 SL 199 TGT 203.5-205. MCX
COPPER:
OBSERVATIONS:
Copper trading range for the day is 719.9-726.5.
Copper prices are being supported by a weaker U.S. dollar
Chinese authorities are considering measures to stabilize the stock market.
Stock of copper in LME-approved warehouses has decreased by 18% since October
BUY COPPER FEB @ 720 SL 716 TGT 724-728. MCX
ZINC:
OBSERVATIONS:
Zinc trading range for the day is 219.6-227.2.
Zinc gains buoyed by improved risk sentiment and China's measures to stabilize its stock market
Global zinc market deficit increased to 71,600 metric tons in November 2023
Domestic refined zinc production in January 2024 expected to drop by 17,500 mt month-on-month
BUY ZINC FEB @ 222 SL 220 TGT 225-227. MCX
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