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Lead technical view for intraday traders

Lead January contract inched 1.65 rupees down to settle at 132.90. Today price objective for bulls would be 135.40 any sustained move above that level would bring 136-137 and more upside. Support is now seen near 132.70 and any failure below this level may bring a retest to 132-131.60 zones.


Trading range for the day is expected among the key support at 120 and resistance at 145.



·          Today again selling lead on jumps around 133.70-134 with stop loss above 135 for targeting 132.50-131 might be appropriate.

·          In alternative scenario selling can be taken below 132.70 with stop loss above 133.40 for targeting 132-131.50 and more down side.

·          Buying can be taken above 137 with stop loss below 136 for targeting 138 and more upside. 

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