Buy Zinc Jan 222 sl 220 tgt 225-227 mcx -Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 199.9-204.1.
Aluminium dropped as China's economy is shaky withdeflationary pressures and weak domestic activity.
China’s Factory-gate prices continue to decline, indicatingdeflationary pressures and dimming prospects for demand.
Consumer and producer deflation in China promptsexpectations of more stimulus measures.
BUY ALUMINIUM JAN @ 201 SL 199 TGT 203-205. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 706-723.4.
Copper dropped as inventories in SHFE warehouses rose by 30%from last Friday
China's copper imports declined by 6.3% in 2023 due toincreased domestic production
The relaxation of COVID-19 measures in China allowed localcopper producers to increase output and start new projects
BUY COPPER JAN @ 710 SL 706 TGT 715-718. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 221.1-225.1.
Zinc steadied as investors weigh industrial outlook after US data
Zinc inventories in Shanghai Futures Exchange warehouses rose15.2% from last Friday
Zinc market is projected to have a surplus in 2024, with outputgrowth outpacing demand
BUY ZINC JAN @ 222 SL 220 TGT 225-227. MCX
