Bottom fishing is likely to happen in MCX Lead futures… Read our levels carefully.
MCX Lead was not to breached its resistance level of 182 and slipped to 177.50 levels.
It has support at 176.50—175.00 and resistance at 180.00
Fresh downside panic we will see on a close below 175 levels only or else it could test its resistance level of 180 again.
More and more upside rally we expect on a close above 180 levels only.
Two consecutive closes above 180 will take it to 184—187+++ levels in days to come.
Close below 175 will take it to 172—171 levels. Major support is at 167.
Traders can take a risk and buy Lead around 176 with a stop loss below 175 on a closing basis for the upside target of 178—179.