Buy Zinc Dec @ 286 SL 284 TGT 288-290. MCX - Kedia Advisory
Aluminium
Observation
Aluminium trading range for the day is 242.7-245.7.
Aluminium steadied due to a lack of clarity on the size of the economic stimulus by China.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.4% from last Friday.
China’s aluminum production increased by 2.74% YoY, and cumulative production from January to November 2024 increased by 3.86% YoY.
BUY ALUMINIUM DEC @ 243 SL 241 TGT 246-247. MCX
Copper
Observation
Copper trading range for the day is 807.1-826.9.
Copper fell amid more pessimism on the outlook of manufacturing demand in China.
Copper output in Peru down 1.4% in October
Shanghai warehouse copper stocks down 13.5%
BUY COPPER DEC @ 812 SL 807 TGT 817-820. MCX
Zinc
Observation
Zinc trading range for the day is 284-291.6.
Zinc prices remained in range amid a stronger U.S. dollar and lack of clarity around China's stimulus measures.
China pledged to increase the budget deficit, issue more debt and loosen monetary policy to maintain a stable economic growth rate.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange fell 4.4% from last Friday
BUY ZINC DEC @ 286 SL 284 TGT 288-290. MCX
