Buy Zinc Nov @ 278 SL 276 TGT 281-283. MCX - Kedia Advisory
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Aluminium
OBSERVATIONS
Aluminium trading range for the day is 240.3-249.5.
Aluminum rose amid lower supply from major producers
China announced it will end tax rebates on exports of semi-manufactured aluminum products in December
Global aluminium output rises 1.3% year on year in October – IAI
BUY ALUMINIUM NOV @ 243 SL 241 TGT 246-248. MCX
Copper
OBSERVATIONS
Copper trading range for the day is 809.5-822.9.
Copper climbed as Peru copper output edges down 1% in September
In China, the People's Bank of China left key lending rates unchanged, in line with expectations
Investors kept an eye on geopolitical developments following Russia’s decision to lower the threshold for a potential nuclear strike amid its escalating conflict.
BUY COPPER NOV @ 815 SL 811 TGT 820-824. MCX
Zinc
OBSERVATIONS
Zinc trading range for the day is 277.3-282.1.
Zinc rose as consumption slightly improved, and spot premiums remained high, offering support.
October zinc concentrate imports fell more than expected, with major reductions from Australia and Peru
Affected by the winter shutdown, many smelters in northern China need to stockpile 1-2 months of zinc ore raw materials
BUY ZINC NOV @ 278 SL 276 TGT 281-283. MCX
