Buy Zinc SEP @ 277 SL 275 TGT 279-281. MCX - Kedia Advisory
Aluminium
BUY ALUMINIUM SEP @ 258 SL 256 TGT 260-262. MCX
OBSERVATIONS
Aluminium trading range for the day is 256-261.2.
Aluminium gains amid speculative bullish positions and quick demand for physical aluminium.
Japan's August aluminium stocks rise 6.3% m/m.
The premium of the cash aluminium contract to the three-month contract had narrowed to $4 a ton, from $16 a ton.
Copper
BUY COPPER SEP @ 900 SL 896 TGT 904-907. MCX
OBSERVATIONS
Copper trading range for the day is 896.2-911.8.
Copper prices edged lower as China's refined copper output in August jumped 15% year-on-year.
China's central bank left a key interest rate unchanged, as authorities appear in no rush to ease monetary settings.
Chile, projects national output to rise this year and next, aiming for a record 6 million tons by 2027.
Zinc
BUY ZINC SEP @ 277 SL 275 TGT 279-281. MCX
OBSERVATIONS
Zinc trading range for the day is 276.2-281.
Zinc dropped as traders booked profits following a rate cut by the U.S. Federal Reserve.
However downside seen limited amid weakening US dollar and tightening supply conditions in China.
China will deepen fiscal reforms and use fiscal policy tools to support consumption and investment,.
