Monday, April 18, 2011

MCX Lead Updates- Trading range for Short Term

Lead futures at global markets reversed early losses on Monday as investors focusing on a more positive technical outlook, with some in the market viewing Sunday's reserve ratio hike as a step closer to the end of the monetary tightening cycle in China.

China's central bank said on Sunday it would raise lenders' required reserves by 50 basis points, the fourth time this year it has made such a move in base metals.

Lead futures at India’s Multi Commodities Exchange are trading on a higher note. Lead April contract rose by 0.25 percent to 121 rupees per Kilogram.

The contract traded at a high of 121 rupees per Kg and a low of 118.75 rupees per Kg for in morning trading session with total volume of 13260 lots.

Lead looks above 120 rupees for next few days. It is expected that if Lead future will cross 121.20 rupees than It may catch the rally up to 125 rupees in near term.


Posted By Commodity MCX Tips