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Buy Zinc Feb @ 210 SL 208 TGT 213-215. MCX - Kedia Advisory
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ALUMINIUM
observation
Aluminium trading range for the day is 194-202.8.
Aluminium gains on short covering after prices dropped as LME inventories rose to a six-week high
Global output rises 2.4% year on year in January
PBOC slashed its 5-year loan prime rate, the reference for mortgages, by 25bps to 3.95% at the February fixing
BUY ALUMINIUM FEB @ 198 SL 196 TGT 200-202. MCX
COPPER
Observation
Copper trading range for the day is 715.3-730.9.
Copper advanced after China cut mortgage rates
However, gains were capped as investors wait for more support for the economy of China.
China announced its biggest ever reduction in the benchmark mortgage rate.
BUY COPPER FEB @ 722 SL 718 TGT 726-730. MCX
ZINC
Observation
Zinc trading range for the day is 209.4-216.4.
Zinc fell as traders weighed demand prospects in China after Lunar New Year break.
China cut the benchmark reference rate for mortgages at a monthly fixing as authorities ramped up efforts to stimulate credit demand.
Zinc inventories have rebounded recently as demand has been hit by China's property troubles.
BUY ZINC FEB @ 210 SL 208 TGT 213-215. MCX
