Lead futures is currently hovering around ₹195 (per kg). The trend has been up since mid-March and as it stands, the outlook remains positive. 

The April futures rebounded about three weeks back after finding support at ₹188. But since the beginning of the current month, the contract has largely been charting a sideways trend between ₹194 and ₹198.

Nevertheless, the price action retains the positive inclination and it will remain so as long as the support at ₹194 stays valid. Just this is the 21-day moving average support at around ₹192.50 thus making the price band of ₹192.50-194 a good base.

We expect the contact to eventually break out of ₹198 and rise to ₹203. However, if the contract slips below the support at ₹192.50, it can extend the decline to ₹188. A breach of this can turn the outlook bearish. Support below ₹188 is at ₹185.

Overall, the existing price action indicates that the outlook is positive.

Trade strategy

Go long on lead futures (April) at ₹195. Target and stop-loss can be ₹203 and ₹192 respectively.

Published on April 9, 2026