Buy Copper Mar @ 728 SL 724 TGT 732-736. MCX -Kedia Advisory
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ALUMINIUM
OBSERVATIONS
* Aluminium trading range for the day is 200.9-204.7.
* Aluminium dropped as China's 5% growth target for 2024 disappointed investors
* However, downside seen limited driven by the looming threat of Russian aluminum bans by the EU.
* Global primary aluminum production grows in Jan y-o-y - IAI
BUY ALUMINIUM MAR @ 202 SL 200 TGT 204-206. MCX
COPPER
OBSERVATIONS
* Copper trading range for the day is 726.7-743.1.
* Copper dropped as Shanghai warehouse stocks up 11.5%
* However, downside seen limited as LME stocks have decreased by 32% this year
* China's announcement of a 5% growth target for 2024 at a recent parliament meeting disappointed some investors.
BUY COPPER MAR @ 728 SL 724 TGT 732-736. MCX
ZINC
OBSERVATIONS
* Zinc trading range for the day is 217.3-224.3.
* Zinc dropped as Shanghai warehouse zinc stocks up 11.3%
* However, downside seen limited as output cut at a zinc smelter in South Korea caused supply uncertainty.
* Global zinc market deficit expands in December – ILZSG
BUY ZINC MAR @ 220 SL 218 TGT 223-225. MCX
