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.
Â· Today again selling lead on jumps around 133.70-134 with stop loss above 135 for targeting 132.50-131 might be appropriate.
Â· 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.
Â· Buying can be taken above 137 with stop loss below 136 for targeting 138 and more upside.
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