Lead futures (continuous contract) fell to mark a low of ₹173.80 in early February. Nevertheless, the price action since early 2025 shows that the price has been going up gradually.
Supporting the positive bias, the contract has seen a moving average cross-over i.e., the 20-day moving average has moved above the 50-day moving average, after lying below the former between June and December last year.
Also, the long-term chart shows strong support at ₹175, which has been holding well since June 2021. Therefore, there is a good chance that lead futures will rally from the current level.
Since June 2021, the contract has remained within ₹175 and ₹196. Hence, a potential upside from the current level can lift lead futures to the upper boundary of ₹196.
Trade strategy
Traders can buy lead futures (March) at the current level of ₹180 and place a stop-loss at ₹172. When the contract rallies to ₹184, trail the stop-loss to ₹180. Book profits at ₹194.
