Buy Zinc Aug @ 254 SL 252 TGT 257-260. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 212.1-217.5.
Aluminium gains as the Chinese government continues to boost the domestic economy.
U.S. jobs data eased fears of a growth slowdown in the United States.
Domestic aluminium production in July 2024 was 3.683 million mt, up 3.22% YoY.
BUY ALUMINIUM AUG @ 212 SL 210 TGT 214-216. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 768.8-789.2.
Copper prices gains supported by rate cut hopes and better-than-expected U.S. data.
Fed policymakers are increasingly confident that inflation is cooling enough to allow interest-rate cuts ahead.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 3.0% from last Friday
BUY COPPER AUG @ 770 SL 766 TGT 776-780. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 250.8-262.2.
Zinc gains as buying was triggered by expectations of higher energy costs
Zinc inventories in warehouses monitored by the SHFE fell 8.5% from last Friday.
U.S. jobs data eased fears of a growth slowdown in the United States
BUY ZINC AUG @ 254 SL 252 TGT 257-260. MCX
