Buy Copper NOV @ 698 SL 694 TGT 703-708. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 203.7-206.1.
Aluminium gains amid China's decision to roll out fresh stimulus measures
Aluminium ingot inventory stood at 626,000 mt, down 10,000 mt from October 16
Global aluminium output rises 2.7% year on year in September
BUY ALUMINIUM NOV @ 203 SL 201 TGT 206-208. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 695.4-708.8.
Copper fell amid stronger dollar and further signs of stagnating euro zone economy
China's top parliament approved a 1 trillion yuan bond issue, adding that the funds would be spent rebuilding disaster zones and improving infrastructure
The global refined copper market showed a 33,000 metric tons deficit in August
BUY COPPER NOV @ 698 SL 694 TGT 703-708. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 220.5-223.7.
Zinc gains as China’s fresh stimulus announcements supported the outlook on industrial demand.
Beijing stated it would widen its budget for the year to borrow an extra CNY 1 trillion and focus on manufacturing investments
The global zinc market surplus widened to 22,000 metric tons in August from 2,900 tons a month earlier
BUY ZINC NOV @ 220 SL 218 TGT 223-225. MCX
