Buy Zinc Aug @ 262 SL 259 TGT 266-268. MCX - Kedia Advisory
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 217.9-227.9.
Aluminium gains amid encouraging U.S. data that allayed fears of an imminent recession in the economy.
China July aluminium output rises to highest monthly total in over 20 yrs
Positive U.S. retail sales and jobs data eased worries about a potential recession in the country.
BUY ALUMINIUM AUG @ 222 SL 219 TGT 225-228. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 800.6-810.8.
Copper prices rose as fears of a U.S. recession faded
Union at BHP's Escondida copper mine in Chile signs new deal, ending risk of strike
Commerzbank lowers copper's year-end price forecast from $9,800 to $9,500 per ton
BUY COPPER AUG @ 803 SL 797 TGT 810-815. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 261.8-266.8.
Zinc gains as Shanghai warehouse zinc stocks down 9.3%
Support also seen as buying was triggered by expectations of higher energy costs
MMG Ltd has halted operations at a mill at its Dugald River zinc mine in Australia for about two months of repair work.
BUY ZINC AUG @ 262 SL 259 TGT 266-268. MCX
