EquityPandit’s Outlook for Lead for the week  (April 17, 2017 – April 21, 2017) :

LEAD:

LEAD (144.70) closed the week on negative note losing around 0.30%.

As we have mentioned last week that support for the commodity lies in the zone of 142 to 144 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 140 to 141 where 200 Daily MA is lying. During the week the commodity manages to hit a low of 143 and close the week around the levels of 145.

Support for the commodity lies in the zone of 142 to 144 where Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 140 to 141 where 200 Daily MA is lying.

Resistance for the commodity lies in the zone of 147 to 149 from where the commodity broke down after consolidation and Fibonacci level is lying. If the commodity manages to close above these levels then the commodity can move to the levels of 152 to 154 where short & medium term moving averages and Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 139 – 141 on downside and 150 – 152 on upside.