EquityPandit’s Outlook for Lead for the week (April 22,2019 – April 26,2019):
Technically on the daily charts we see minor support on the downside for Lead Mcx Future lies in zone of 130- 131 levels, whereas minor resistance on the upside is capped around 135- 136 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 125- 124 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 140- 142
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 140- 142 on upside and 125- 124 on downside.