Buy Copper Oct @ 820 SL 815 TGT 825-829. MCX - Kedia Advisory
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SILVER
Observations
Aluminium trading range for the day is 234.2-242.
Aluminium gains driven by aggressive stimulus packages announced by China that boosted the demand outlook.
China aluminium production up 1.2 % to 3.65 mln metric tons in Sept.
Meanwhile, hydropower supply in the southwestern Yunnan province remained sufficient amid improved rainfall.
BUY ALUMINIUM OCT @ 238 SL 236 TGT 241-243. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 813.3-829.7.
Copper rose supported by new measures to boost liquidity in the Chinese stock market
Support also seen amid expectations that more stimulus tools were coming after it released mixed economic data.
Copper inventories in SHFE warehouses rose 7.6% from last Friday
BUY COPPER OCT @ 820 SL 815 TGT 825-829. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 281.2-287.
Zinc prices rose amid better-than-expected economic data in China lifted market sentiment.
Data showed that China’s economy grew 4.6% year-on-year in the third quarter.
The country also reported stronger-than-expected retail sales, industrial production and fixed asset investments in September.
BUY ZINC OCT @ 283.5 SL 281.5 TGT 286-288. MCX
