Sell Aluminium APR @ 357 SL 360 TGT 354-352. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM APR @ 357 SL 360 TGT 354-352. MCX
Observations
Aluminium trading range for the day is 320.6-373.6.
Aluminium gains after Iranian strikes damaged major Gulf smelters, adding to supply disruptions.
China's central bank pledged to maintain appropriately loose monetary policy.
Many Asian economies saw factory activity slow in March, a sign surging fuel costs and heightening global uncertainty from the war.
Copper
SELL COPPER APR @ 1175 SL 1185 TGT 1165-1155. MCX
Observations
Copper trading range for the day is 1155.7-1178.7.
Copper rose as de-escalatory rhetoric from US and Iranian authorities regarding their war improved the outlook for global sentiment.
The pullback in the dollar on lower safety demand supported the prices.
Stockpiles at LME warehouses were close to their highest in six years, and those at the SHFE were near their highest on record.
Zinc
SELL ZINC APR @ 326 SL 329 TGT 323-320. MCX
Observations
Zinc trading range for the day is 314.7-331.5.
Zinc gains as investors are betting on signs of de-escalation in the ongoing war in the Middle East.
China's strong factory data, provided further support to the prices.
Inventories in warehouses monitored by the Shanghai Futures Exchange fell 2.3% from last Friday.
