Buy Copper Nov @ 843 SL 838 TGT 848-852. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 239.5-243.7.
Aluminium gains as strong manufacturing activity data bolstered demand expectations in China
Support also seen amid news of alumina shortages triggered systematic buying from funds.
Manufacturing activity in China expanded in October for the first time in six months
BUY ALUMINIUM NOV @ 240 SL 238 TGT 242-244. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 838.9-853.5.
Copper gains as China's October manufacturing activity swung back to expansion for the first time in six months
Copper output from Chile's Codelco down nearly 5% in January – September
China's top legislative body will meet from Nov. 4-8, where market participants hope Beijing will announce more measures for its economy
BUY COPPER NOV @ 843 SL 838 TGT 848-852. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 282.7-288.5.
Zinc gains as a raw materials squeeze forces smelters to reduce production of refined metal.
Chinese data suggesting poor demand prospects added to disappointment with economic stimulus measures
China’s industrial profits plunged in September, registering the steepest monthly decline of the year, owing to factors including weak demand
BUY ZINC NOV @ 284 SL 282 TGT 287-289. MCX
