EquityPandit’s Outlook for Lead for the week  (Mar 12, 2018 – Mar 16, 2018) :

LEAD:

LEAD closed the week on negative note losing around 3.10%.

As we have mentioned last week, that support for the commodity lies in the zone of 160 to 162 where Fibonacci levels and lows for the month of February-2018 are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 153 to 155 where the commodity has taken support in the month of October-2017 & November-2017 and long term moving averages are lying. During the week the commodity manages to hit a low of 152 and close the week around the levels of 155.

Support for the commodity lies in the zone of 153 to 155 where the commodity has taken support in the month of October-2017 & November-2017 and long term moving averages are lying. If the commodity manages to close below these levels then the commodity can drift to the levels of 145 to 148 where Fibonacci levels are lying.

Resistance for the commodity lies in the zone of 158 to 160 where Fibonacci levels are lying. If the commodity manages to close above these levels then the commodity can move to the levels of 164 to 166 where short & medium term moving averages are lying.

Broad range for the commodity in the coming week can be seen between 145 – 148 on downside & 165 – 168 on upside.