Buy Zinc Nov @ 287 SL 285 TGT 290-292. MCX - Kedia Advisory
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 239-246.2.
Aluminium slipped amid signs of resilience in the US economy tempered expectations for aggressive Fed interest rate cuts.
LME data showed one large futures position at more than 40% of open interest to buy aluminium in December.
Goldman Sachs raised its 2025 aluminum price forecasts citing higher demand potential in top consumer China following stimulus measures.
BUY ALUMINIUM NOV @ 241 SL 239 TGT 243-245. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 827.9-857.3.
Copper gains on revived hope for large fiscal stimulus in China
China's top legislative body considering approving fresh fiscal package which could be worth over 10 trillion yuan on Nov 8
China plans to approve raising of fresh 10 trillion yuan debt via special treasury, local government bonds in next few years.
BUY COPPER NOV @ 842 SL 837 TGT 848-852. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 282.8-296.8.
Zinc prices retreated after stocks in LME registered rose for a third consecutive day
Chinese data suggesting poor demand prospects added to disappointment with economic stimulus measures
China’s industrial profits plunged in September, registering the steepest monthly decline of the year, owing to factors including weak demand
BUY ZINC NOV @ 287 SL 285 TGT 290-292. MCX
Tag News
Quote on Gold from Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities
