Powered by: Motilal Oswal
2024-03-11 10:09:49 am | Source: Kedia Advisory
Buy Copper Mar @ 728 SL 724 TGT 732-736. MCX -Kedia Advisory

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

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here