EquityPandit’s Outlook for Lead for the week  (Oct 03, 2017 – Oct 06, 2017) :

LEAD:

LEAD (164.60) closed the week on positive note gaining around 1.80%.

As we have mentioned last week, that 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. During the week the commodity manages to hit a low of 160 and close the week around the levels of 165.

Minor support for the commodity lies in the zone of 160 to 162. 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 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 155 – 157 on downside & 173 – 175 on upside.