Buy Copper NOV @ 715 SL 712 TGT 720-724. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 203.9-207.3.
Aluminium gains on optimism for further stimulus measures for the property sector in China.
Chinese regulators including the People's Bank of China are drafting a "whitelist" lending support to 50 property developers.
Global aluminium output rises 3.9% year on year in October – IAI
BUY ALUMINIUM NOV @ 204 SL 202 TGT 206-208. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 713.8-721.
Copper prices steadied as the global refined copper market showed a 55,000 metric tons deficit in September.
Chinese regulators including the People's Bank of China are drafting a "whitelist" lending support to 50 property developers.
China's refined copper production in October jumped 13.3% to 11.3 million metric tons year-on-year
BUY COPPER NOV @ 715 SL 712 TGT 720-724. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 223.6-229.4.
Zinc fell after LME data showed large deliveries to LME registered warehouses in Singapore
Zinc stocks in LME warehouses rose 9,300 tons to 142,750 tons.
Zinc stocks have more than doubled since Nov. 15 and are at their highest since late August.
BUY ZINC NOV @ 225 SL 223 TGT 228-230. MCX
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