AHMEDABAD (Commodity Online): Lead traded with negative sentiment and closed at Rs 106.35 after making high of Rs 108.75 more then 2.20% on MCX tracking LME lead prices which surged due to falling dollar index overshdowing last weeks positive US data.
Base metals were under selling pressure due to weak Chinese data Holiday sales since 2009,weak Dollar Index on account of postpone of Greek debt negotiations between Greek government and creditors.
Today ADEDY and GSEE have called for 24-hour strike shutting down government services, school, bank employees, transportation, labourers to increase pressure on Papademos to negotiate Greek Debt talks. informed Rushabh Mehta, analyst with Commodity Online.
Technically on charts Lead prices broke its 50 DEMA at 107 levels and settled at 106.35 with huge voume which lead to high open interst.For todays session it has support at 106 rupees on break out of that would push lead more southwardly to 105.40 rupees informed Rushabh Mehta, analyst with Commodity Online.
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