Lead weekly-below 157 remain sell targets 152.5 and 148.5

Mcx lead outlook for next week 12 to 16 Dec. 2016

Mcx lead outlook for next week 12 to 16 Dec. 2016

Mcx lead future this week closed at 156.2 with gain. Mcx lead future entered into downtrend and remain weak below 157.5 on weekly closing basis. This week we saw range trading in this base where upside was capped at 160 rupee while downside capped at 153 rupee. Mcx lead chart price as well as indicators are weak and suggesting sell.  

For next week, mcx lead outlook remain bearish below 157 and my short sell targets are 152.5 and then 148.5.

  From month view, mcx lead given breakdown below 157.5 support and now will head towards month swing short target of 140 rupee. Below 140, mcx lead next major support as well as target will be 118 rupee.  

Positional mcx lead traders keep shorts with trailing stop loss above 158 and expect targets at 140 and then 118 in month of December.

The Author

Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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