Sell Aluminium May @ 234 SL 236 TGT 232-230. MCX - Kedia Advisory
Aluminium
SELL ALUMINIUM MAY @ 234 SL 236 TGT 232-230. MCX
OBSERVATIONS
Aluminium trading range for the day is 228.4-235.8.
Aluminium gained as optimism around global trade negotiations buoyed sentiment.
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange fell 1.5% from last Friday.
Data showing the US economy unexpectedly contracted by 0.3% on an annualized basis in the first quarter.
Copper
SELL COPPER MAY @ 844 SL 849 TGT 838-835. MCX
OBSERVATIONS
Copper trading range for the day is 829.4-850.8.
Copper gains as signs of progress in trade negotiations lifted market sentiment.
However, disappointing US GDP data and weakening Chinese manufacturing activity stoked recession fears.
Copper output in Chile, rose 9.1% year-on-year in March to 477,049 metric tons.
Zinc
SELL ZINC MAY @ 247 SL 249 TGT 245-243. MCX
OBSERVATIONS
Zinc trading range for the day is 242-249.
Zinc gains as hopes for progress in U.S. tariff talks with China provided support.
U.S. President believed there was a "very good chance" his administration could do a deal with China.
Zinc inventories in warehouses monitored by SHFE fell 5.6% from last Friday, the exchange said.
