Lead batteries
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megaflopp
Lead futures, currently trading at ₹181 (per kg), has fallen 1 per cent so far this week. Attempts to break out of the resistance at ₹184 failed, which the bears capitalised and dragged the contract lower.
The price action since May shows that the broader direction of movement has been up and lead futures has been moving along a rising channel. As the resistance at ₹184 coincided with the upper boundary of the channel, it turned out to be an advantage for bears.
That said, the contract is now trading near the lower boundary of the range, which is at ₹181. Just below this is another support at ₹180.50. So, lead futures is likely to rebound from the current level as the price region of ₹180.50-181 is a potential support band.
A rally from the current level can lift lead futures to ₹184. A break-out of this can take the contract to ₹186.
However, if the support at ₹180.50 is breached, lead futures can fall to ₹178. Support below ₹178 is at ₹176.
Trade strategy
Exit the short position in lead futures (Oct) that we suggested at ₹183.50 at ₹180.50
After liquidating the short position, traders can buy the contract at ₹180.50. Target and stop-loss can be ₹184 and ₹179.
Published on October 14, 2025
