EquityPandit’s Outlook for Lead for the week  (Aug 21, 2017 – Aug 25, 2017) :

LEAD:

LEAD (150.40) closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that support for the commodity lies in the zone of 146 to 147 where 200 daily moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 142 to 143 where medium term moving averages and Fibonacci levels are lying. During the week the commodity manages to hit a low of 148 and close the week around the levels of 150.40

Support for the commodity lies in the zone of 147 to 149 where 200 daily moving averages and Fibonacci levels are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 142 to 143 where medium term moving averages and Fibonacci levels are lying.

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.

Broad range for the commodity in the coming week can be seen between 142 – 144 on downside & 158 – 160 on upside.