Tuesday, January 18, 2011

MCX Lead Likely To Fall Down

Yesterday, MCX Lead Jan contract was the worst performer of the day as its intra-day touched a low of 121.20 and made high of 122.85 and finally settled at 121.40.

For today MCX Lead Jan contract is looking strong and can take support at 120.80 and 119.60 while resistance are 112.45 and 123.50.

Technically, on the upside MCX Lead Jan contract can touch 123.5 and 125.2 levels while downside it may go down to 120 and 119.2 levels if it gives a closing below 121.

Positional traders can buy MCX Lead Jan contract near 121 with the stop loss of 118.6 and can wait for the targets of 124.6 and 126.2


Posted By Commodity MCX Tips