AHMEDABAD (Commodity Online): Lead prices rose in today's session, lifted by stronger Euro on hopes Greece would reach agreement with its creditors to avoid a messy default. Additionally the improved industrial output of Japan for last month support base metal prices to trade higher.
Currently MCX Lead February contract trading at Rs 113.10, rose by 0.53 percent. It touched an intra-day high of Rs 113.65 after opening at Rs 112.20.
Technically MCX Lead February futures having good support at Rs 112 and Resistance at Rs 114.50. Lead futures prices expect to trade with a positive bias today, as economic data from the US is expected to come on a positive note which could boost the sentiments in the global markets. In addition to this, a weaker dollar will also add further upside in prices, says Ankush Kumar Jain, Research Analyst with Commodity Online.
Intra-day traders advise to buy MCX Lead February futures around Rs 112.80 with stop loss of Rs 112 for target Rs 113.60 and 114.40, added Jain
To get in touch with the Analyst on this report or to get a free trial on trading advisories call 079-40275050 or mail to tips@commodityonline.com
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