Lead futures has been moving up gradually over the past couple of weeks. The price action shows a positive bias and so, more gains can be expected going ahead.

The April futures is now trading around ₹196.60 (per kg). It has been on a recovery after marking a low of ₹192.40 on April 10. 

The price action shows that the contract has formed a good base at ₹192 and so long as this level holds, the bulls will have an edge over the bears.

So, although there is a potential resistance ahead at ₹198, we expect lead futures to surpass this level and rise to ₹203 in the near-term. 

On the other hand, if the contract falls from the current level, it can find support at ₹195 and ₹192. A breakdown below the latter can turn the outlook bearish, possibly dragging the contract to ₹188.

Nevertheless, as it stands, the bias is positive and the support at ₹192 is key for this. 

Trade strategy

We suggested buying lead futures (April) at ₹195 with a stop-loss at ₹192. Traders can hold on to this trade. When the price rises to ₹198, raise the stop-loss to ₹195. Book profits at ₹203.

If neither target nor stop-loss mentioned above are triggered before the expiry of April contract (on April 30), consider rolling over the trade to May futures. 

Published on April 23, 2026