Buy Copper Feb @ 722 SL 718 TGT 726-730. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS:
Aluminium trading range for the day is 197.6-201.6.
Aluminium dropped amid a pessimistic industrial sentiment
Persistent macroeconomic headwinds in China, continued to hamper the outlook for metals.
Share of Russian aluminium in LME warehouses remains at 90%
BUY ALUMINIUM FEB @ 198 SL 197 TGT 200-202. MCX
Copper
OBSERVATIONS:
Copper trading range for the day is 710.4-731.
Copper gains helped by falling inventory and expectations of more economic support from China.
LME copper stocks dropped to 132,525 tonnes, reaching its lowest in six months.
Cash-to-three month spread last traded at $88 a metric ton, compared to a record high of $113.3 on Feb 9.
BUY COPPER FEB @ 722 SL 718 TGT 726-730. MCX
Zinc
OBSERVATIONS:
Zinc trading range for the day is 209-217.6.
Zinc gains after sluggish US retail data revamped bets of a rate cut by Fed.
Support also seen amid expectations of more economic support from China.
Russian new Ozernoye mine has delayed the start of zinc concentrate production until at least the third quarter of 2024
BUY ZINC FEB @ 212 SL 209 TGT 215-217. MCX
