Sell Zinc Jan @ 230 SL 232 TGT 227-225. MCX - Kedia Advisory
Aluminium
Observations
Aluminium trading range for the day is 204.9-209.3.
Aluminium prices dropped due to increased stocks in LME-approved warehouses.
Chinese manufacturing activity contracted in December, but private survey showed unexpected growth.
Expectations of further policy easing by the People's Bank of China.
SELL ALUMINIUM JAN @ 209 SL 211 TGT 206.5-205. MCX
Copper
Observations
Copper trading range for the day is 722.1-732.5.
Copper prices dropped as dollar rose and concerns about demand in China grew.
China's manufacturing activity shrank for a third straight month in December.
Expectations of copper market surpluses reflected in low cash over three-month contract.
SELL COPPER JAN @ 730 SL 734 TGT 726-722. MCX
Zinc
Observations
Zinc trading range for the day is 225-232.4.
Zinc prices dropped as China's official PMI fell to 49 in December.
Global zinc market deficit eased to 52,500 metric tons in October.
Year-on-year increase of 10.62% in China's refined zinc output.
SELL ZINC JAN @ 230 SL 232 TGT 227-225. MCX
