MCX lead has fallen sharply from the high of Rs.138.40.The entire fall is unfolding in a channelised manner. Recently, the base metal has bounced from the lower end of the channel towards the upper end. The key hurdle area to watch out for is Rs116-117.20. Unless this resistance zone is crossed on closing basis lead can resume the fall. Overall, the commodity can tumble down till Rs.107.00-105.80. An immediate support is near Rs.113.50.
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