Buy Zinc Nov @ 279 SL 277 TGT 282-284. MCX - Kedia Advisory
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Aluminium
Observations
Aluminium trading range for the day is 242-248.
Aluminium held firm after China decided to remove export tax rebates.
China said it would cancel the 13% export tax refund for some aluminium products starting Dec. 1.
Support seen amid lower supply from major producers, while markets continued to assess the impact of Chinese stimulus.
BUY ALUMINIUM NOV @ 244 SL 242 TGT 247-249. MCX
Copper
Observations
Copper trading range for the day is 809.2-838.2.
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 @ 822 SL 818 TGT 828-832. MCX
Zinc
Observations
Zinc trading range for the day is 274.6-284.
Zinc prices rose after market rumors of production cuts have resurfaced.
Further consumption slightly improved, and spot premiums remained high, offering some support to prices.
Chinese industrial output rose by 5.3% annually in October.
BUY ZINC NOV @ 279 SL 277 TGT 282-284. MCX
