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06-11-2024 11:56 AM | Source: Kedia Advisory
Sell Aluminium Nov @ 245 SL 247 TGT 42-240. MCX - Kedia Advisory

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ALUMINIUM

OBSERVATIONS

Aluminium trading range for the day is 240-245.6.

Aluminium prices gained as strong manufacturing activity databolstered demand expectations in China.

Support also seen amid news of alumina shortages triggeredsystematic buying from funds.

Manufacturing activity in China expanded in October for the firsttime in six months.

 

SELL ALUMINIUM NOV @ 245 SL 247 TGT 42-240. MCX

 

COPPER

OBSERVATIONS

Disclaimer:http://bit.ly/2ziDavwPage No. 4CommoditySpreadCommodityExpiryCloseR2R1PPS1S2Lme Copper9737.009852.509795.509731.009674.009609.50SELL COPPER NOV @ 863 SL 868 TGT 858-854. MCX

Copper trading range for the day is 851.7-865.3.

Copper gains amid a pullback in the dollar and greaterconfidence in stimulus by the Chinese government.

Copper output from Chile's Codelco down nearly 5% in January –September

China's top legislative body will meet from Nov. 4-8, wheremarket participants hope Beijing will announce more measuresfor its economy.

 

SELL COPPER NOV @ 863 SL 868 TGT 858-854. MCX

 

ZINC

OBSERVATIONS

Zinc trading range for the day is 282.5-290.7.

Zinc prices gained as a raw materials squeeze forces smelters toreduce production

Chinese data suggesting poor demand prospects added todisappointment with economic stimulus measures

China’s industrial profits plunged in September, registering thesteepest monthly decline of the year, owing to factors includingweak demand

 

SELL ZINC NOV @ 289 SL 291 TGT 287-285. MCX

 

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