EquityPandit’s Outlook for Lead for the week  (Sep 25, 2017 – Sep 29, 2017) :

LEAD:

LEAD (161.60) closed the week on positive note gaining around 7.40%.

As we have mentioned last week, that resistance for the commodity lies in the zone of 153 to 155 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 159 to 161 where long term Fibonacci levels are lying. During the week the commodity manages to hit a high of 163 and close the week around the levels of 162.

Minor support for the commodity lies in the zone of 159 to 160. Support for the commodity lies in the zone of 154 to 156 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 146 to 148 where short term & 200 daily moving averages and Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 164 to 166 where long term Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 172 to 175 where life time high for the commodity is lying.

Broad range for the commodity in the coming week can be seen between 150 – 152 on downside & 170 – 172 on upside.