21-02-2024 10:40 AM | Source: Kedia Advisory
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

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