EquityPandit’s Outlook for Lead for the week (February 27, 2017 – March 03, 2017) :

LEAD:

LEAD (150.50) closed the week with a negative note losing around 0.40%.

As we have mentioned last week that support for the commodity lies in the zone of 148 to 150 where Fibonacci level and medium term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 142 to 144 where Fibonacci levels are lying. During the week the commodity manages to hit a low of 148.10 and close the week around the levels of 150.50.

Support for the commodity lies in the zone of 148 to 150 where Fibonacci level and medium term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 142 to 144 where Fibonacci levels are lying.

Minor resistance for the commodity lies in the zone of 151 to 152. Resistance for the commodity lies in the zone of 154 to 155 from where the commodity broke down and 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 Fibonacci levels are lying.

Broad range for the commodity in the coming week can be seen between 144 – 146 on downside and 155 – 157 on upside.