Mcx lead weekly-facing supply at 136-138 rupee zone

Mcx lead future weekly technical analysis report for 29 may
to 2 June 2017

Mcx lead future this week closed at 136 with gain. After
last 3 weeks continues selling lead prices seen some short covering as well as
value buying on lower levels and hit recovery target of 136 rupee. 
On upside
136 to 138 is strong hurdle and lead prices seeing some supply from market and
failed to cross that level in this week. Which might result in sharp selling in
next week.
On downside 132 and 128.5 are support zones while on upside
136 and 138 are strong hurdles. Above 138 expect sharp short covering rally up
to 144 rupee.

From long term view, mcx lead look weak and broke long term
support of 140 rupee on weekly closing basis. Below 140, expect downside in
2017 up to 103 rupee.

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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