Sell Zinc NOV @ 229 SL 231 TGT 227-225. MCX - Kedia Advisory
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ALUMINIUM
OBSERVATIONS
Aluminium trading range for the day is 204.5-205.3.
Aluminium settled flat as stocks in LME warehouses rebounded after arrivals
Aluminium inventories in warehouses monitored by the Shanghai Futures Exchange rose by 10%
Pressure seen on prices as hawkish comments from Fed Powell dashed expectations of a peak in interest rates.
SELL ALUMINIUM NOV @ 206 SL 208 TGT 204-202. MCX
COPPER
OBSERVATIONS
Copper trading range for the day is 696.3-699.1.
Copper settled flat pressured by a rebound for the dollar and demand uncertainties.
Demand in China maintained its pessimistic outlook, dragged by contractionary manufacturing PMI figures
China's consumer prices swung back into contraction and factory-gate deflation persisted in October
SELL COPPER NOV @ 700 SL 704 TGT 696-692. MCX
ZINC
OBSERVATIONS
Zinc trading range for the day is 225.2-232.4.
Zinc rose on concerns about supply after reports of a fire at a Russian mine project
LME zinc inventories have more than halved since early September.
Nyrstar said it planned to temporarily close two U.S. zinc mines at the end of November
SELL ZINC NOV @ 229 SL 231 TGT 227-225. MCX
