Buy Zinc Nov @ 299 SL 297 TGT 301-303. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 271 SL 269 TGT 273-275. MCX
OBSERVATIONS
Aluminium trading range for the day is 269.8-274.8.
Aluminium dropped as the US dollar gains and concerns around metal demand began to emerge.
However downside seen limited helped by prospects of improved demand and limited output growth in China.
The European aluminium premium freight and handling costs, rose to $328 from $183 in June.
COPPER
BUY COPPER NOV @ 998 SL 994 TGT 1002-1006. MCX
OBSERVATIONS
Copper trading range for the day is 993.8-1010.2.
Copper dropped as prices pulled back under pressure from a strong dollar, worries about demand in China
However downside seen limited as risk appetite returned to the markets amid signs of resilience in the US economy.
Data showed that US private employers added more jobs than expected in October.
ZINC
BUY ZINC NOV @ 299 SL 297 TGT 301-303. MCX
OBSERVATIONS
Zinc trading range for the day is 299.1-303.1.
Zinc gains as Inventories have plunged to extremely low levels in the global zinc market outside China.
However downside seen limited amid soft manufacturing PMIs in China and the US pressed against industrial sentiment.
Global refined zinc metal production is projected to rise 2.7% to 13.8 million mt in 2025.
