Buy Zinc Dec @ 218 SL 216 TGT 220-222. MCX - Kedia Advisory
Aluminium
OBSERVATIONS
Aluminium trading range for the day is 196.3-200.7.
Aluminium dropped as investors cautiously awaited key economic data this week to guide the outlook further.
A private survey showed that Chinese manufacturing activity unexpectedly expanded in November
The Caixin China General Service PMI increased to 51.5 in November 2023 from 50.4 in the previous month.
BUY ALUMINIUM DEC @ 198 SL 196 TGT 200-201. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 706.4-723.8.
Copper prices fell amid growing concerns about increasing inventories at the London Metals Exchange.
Moody's affirmed China's credit rating at A1 but revised the outlook from "stable" to "negative"
Chile copper miner Codelco's production falls 5.7% in October
BUY COPPER DEC @ 712 SL 708 TGT 716-719. MCX
Zinc
Zinc trading range for the day is 217-221.2.
Zinc dropped after Moody's cut its outlook on China's credit ratings to negative from stable.
LME warehouse zinc inventories surged to 226,250 at the end of November, hitting a more-than-two-year high
The global zinc market swung to a deficit of 15,400 metric tons in September from a surplus of 28,000 tons in August
BUY ZINC DEC @ 218 SL 216 TGT 220-222. MCX
