MCX lead, in its recent rise, has formed an impulse on the upside. After the impulse lead is forming a minor degree correction. It has retraced 61.8% of the impulse. Since the last few sessions, lead is forming a base near the key Fibonacci level. A key support zone on closing basis will be 61.8%-78.6% retracement marks, ie Rs.110.20-108.00 respectively. As per the Elliott Wave theory, hereon, its next leg on the upside is likely to start off. On the higher side, Rs.112.30-113.40 is the key resistance level beyond which lead can test the high of Rs.118.20.

Today`s Free Power Level & Auto Buy Sell Chart

(Disclaimer: The above chart shown is for study purpose only and not for trading decision)

Currency & Comex Jobbing Range

Contact Form

Name

Email *

Message *

Powered by Blogger.