EquityPandit’s Outlook for Lead for the week (March 27, 2017 – March 31, 2017) :

LEAD:

LEAD (153.25) closed the week on positive note gaining around 2.20%.

As we have mentioned last week that 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. During the week the commodity manages to hit a high of 156.35 and close the week around the levels of 153.25

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.

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 146 – 148 on downside and 158 – 160 on upside.