EquityPandit’s Outlook for Lead for the week (April 01, 2019 – April 05, 2019):
Technically on the daily charts we see minor support on the downside for Lead Mcx Future lies in zone of 135-134 levels, whereas minor resistance on the upside is capped around 140- 142 levels.
If Lead Mcx Future breaches minor support on the downside and closes below it we may see fresh break down and Lead Mcx Future can head towards major support on lower side around 129- 130 and if breaches minor resistance on the upside and closes above it we may see fresh breakout and Lead Mcx Future can head towards higher levels around 155- 156
Currently Lead Mcx Future is trading below 200 days exponential moving average and suggests long term trend is bearish. EquityPandit’s analyst predicts range for the week is seen from 155- 156 on upside and 129- 130 on downside.