Buy Zinc NOV @ 304 SL 302 TGT 306-308. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM NOV @ 273 SL 271 TGT 275-277. MCX
OBSERVATIONS
Aluminium trading range for the day is 272.4-275.
Aluminium rose on continued concern about global supplies.
Support also seen buoyed by hopes that the U.S. government shutdown may end soon and data showing deflation eased in China.
China unveiled more measures to support growth, the U.S. moved closer to reopening government operations.
COPPER
BUY COPPER NOV @ 1011 SL 1006 TGT 1018-1024. MCX
OBSERVATIONS
Copper trading range for the day is 1002.8-1022.4.
Copper prices edged higher supported by optimism over an expected end to the U.S. government shutdown.
Fresh production data reinforced expectations of tighter supply next year.
The market awaited the release of loans data from top consumer China to gauge demand prospects.
ZINC
BUY ZINC NOV @ 304 SL 302 TGT 306-308. MCX
OBSERVATIONS
Zinc trading range for the day is 302.1-307.1.
Zinc gains as stocks in LME are near their lowest since February 2023 at 35,875 tons.
SHFE zinc stocks fall 8% in two weeks to 100,208 tons, extending supply decline.
October data from China signalled easing deflation and lifted confidence in economic recovery.
