Buy Zinc Nov @ 304 SL 302 TGT 307-309. MCX - Kedia Advisory
ALUMINIUM
BUY ALUMINIUM NOV @ 272 SL 270 TGT 274-276. MCX
OBSERVATIONS
Aluminium trading range for the day is 271.8-275.
Aluminium dropped on profit booking amid weak lending data from China.
In China, new loans by Chinese banks fell sharply in October from the previous month, missing expectations.
ANZ raised its short-term aluminium price target to $2,900 per ton from $2,700.
COPPER
BUY COPPER NOV @ 1010 SL 1004 TGT 1018-1022. MCX
OBSERVATIONS
Copper trading range for the day is 1008.1-1023.7.
Copper rose as risk sentiment strengthened after President Trump signed a short-term funding bill ending US government shutdown.
Hopes for additional Federal Reserve rate cuts amid signs of labor market weakness further supported risk assets.
Fresh production data reinforced expectations of tighter supply next year.
ZINC
BUY ZINC NOV @ 304 SL 302 TGT 307-309. MCX
OBSERVATIONS
Zinc trading range for the day is 303.2-309.
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.
