Sell Aluminium APR @ 356 SL 359 TGT 353-351. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM APR @ 356 SL 359 TGT 353-351. MCX
Observations
Aluminium trading range for the day is 343.9-362.9.
Aluminium fell amid a mounting concerns over a potential economic recession.
The cash LME aluminium contract was trading at a steep $69 a ton premium over the three-month forward.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose 3.4% from last Friday
Copper
SELL COPPER APR @ 1165 SL 1175 TGT 1155-1145. MCX
Observations
Copper trading range for the day is 1140.8-1181.8.
Copper climbed as market sentiment improved on hopes for a ceasefire in the Middle East.
London Metal Exchange stockpiles near six-year highs.
Copper inventories in warehouses monitored by the Shanghai Futures Exchange fell 16.2% from last Friday
Zinc
SELL ZINC APR @ 325 SL 328 TGT 322-320. MCX
Observations
Zinc trading range for the day is 319.3-328.1.
Zinc gains amid signs of improving industrial activity and short-term supply tightness.
However upside seen limited as uncertainty over the duration of the Middle East conflict clouded the demand outlook.
China's factory activity returned to expansion in March, supporting demand prospects.
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