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Lead

MCX Lead October On technical charts, Lead has some brownie points in its kitty.
The higher time frame monthly chart has just broken the jinx
CMP: ` 137 (As on 04th Oct, 2016) of lower top-lower bottom formation. This breakout above
previous year’s high is actually powered by a classic lower
Buy: ` 137-135 channel breakout and is likely to further break above the double
top formation near Rs 155 range, the all-time high scored by the
Target Price: ` 145-151 metal. The famous spread tussle with Zinc has again got a twist
with Lead showing its strength after a long time. These twists
Stop-Loss: < ` 132.50 will ultimately benefit both the base metals.

Lead: Ready to ‘lead’ the last quarter We recommend buying in MCX Lead October contract at
CMP Rs 137 and on dips till Rs 135 for targets in the range
After trading range bound to negative in 2014 of Rs 145-151. Maintain stop loss below Rs 132.50.
and 2015, Lead has consistently traded in positive
territory for most part of the current year. The metal,
known as the ‘food of the batteries’, has posted
nearly 20% gains this year till September, the best
in last four years. September has proved to be the
best month for Lead this year, accounting for nearly
half of the yearly gains. This high momentum rally
has made Lead the hottest commodity with best
prospective as we enter into the last quarter of 2016.

: mutualfunds@arihantcapital.com | : <Arihant MF> to 56677

7 ARIHANT CAPITAL ¡ OCTOBER 2016