Sell Zinc Nov @ 304 SL 306 TGT 302-300. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM NOV @ 272 SL 274 TGT 270-268. MCX
OBSERVATIONS
Aluminium trading range for the day is 267.1-274.7.
Aluminium dropped amid a slew of weak China data raised demand concerns.
China's industrial output grew 4.9% year-on-year in October and retail sales rose 2.9%, both the slowest in more than a year.
New loans by Chinese banks fell sharply in October from the month prior, according to data from the People's Bank of China.
COPPER
SELL COPPER NOV @ 1010 SL 1015 TGT 1005-1000. MCX
OBSERVATIONS
Copper trading range for the day is 992.8-1023.8.
Copper declined after weak economic data from China fanned concerns over demand.
China's factory output and retail sales grew at their weakest pace in over a year in October.
Copper inventories in warehouses monitored by SHFE fell 4.9% from a week ago to 109,407 tons.
ZINC
SELL ZINC NOV @ 304 SL 306 TGT 302-300. MCX
OBSERVATIONS
Zinc trading range for the day is 299.4-307.6.
Zinc dropped as soft manufacturing PMIs in China and the US pressed against industrial sentiment.
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange gains 0.70% from last Friday, the exchange said.
The producer price index in October fell 2.1% year-on-year, easing from a 2.3% decline in September, while the consumer price index grew 0.2%.
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