Sell Zinc Nov @ 304 SL 306 TGT 302-300. MCX - Kedia Advisory
ALUMINIUM
SELL ALUMINIUM NOV @ 268 SL 270 TGT 266-264. MCX
OBSERVATIONS
Aluminium trading range for the day is 264-272.2.
Aluminium dropped as primary aluminium output in October reached 3.8mt (+0.4% year-on-year).
China’s economy cooled more than expected in October.
Record-low investment and slower industrial growth compounded already weak consumer demand.
COPPER
SELL COPPER NOV @ 1005 SL 1010 TGT 1000-995. MCX
OBSERVATIONS
Copper trading range for the day is 997.8-1009.6.
Copper declined after weak economic data from China fanned concerns over demand.
McMoRan resumed partial operations at Indonesia’s Grasberg mine after a fatal accident halted output in September
China's factory output and retail sales grew at their weakest pace in over a year in October.
ZINC
SELL ZINC NOV @ 304 SL 306 TGT 302-300. MCX
OBSERVATIONS
Zinc trading range for the day is 299.2-305.8.
Zinc dropped weighed down by a slightly firmer dollar, fading hopes for another Fed rate cut and a host of macro concerns.
Sentiment also continues to be held back by macro signals from China, where recent industrial data has been lacklustre
Zinc inventories in warehouses monitored by the Shanghai Futures Exchange gains 0.70% from last Friday, the exchange said.
