EquityPandit’s Outlook for Lead for the week (February 13, 2017 – February 17, 2017) :

LEAD:

LEAD (161.30) closed the week with a positive note gaining around 3.20%.

Minor support for the commodity lies in the zone of around 158 to 159. Support for the commodity lies in the zone of 154 to 155 where Fibonacci level is lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 149 to 151 where short term moving averages and Fibonacci level is lying.

Minor resistance for the commodity lies in the zone of 163 to 164 where highs of January-2017 is lying. Resistance for the commodity lies in the zone of 166 to 167 where Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 175 to 176 where 52 week highs for the commodity is lying.

Broad range for the commodity in the coming week can be seen between 152 – 154 on downside and 168 – 170 on upside.