Lead futures has been moving up over the last few sessions. The April contract is now trading at ₹195. The price action shows a positive bias and further upside is highly likely.

The April lead futures, after marking a low of ₹192.40 on Friday, has rebounded, indicating that the support at ₹192 is valid. So long as this level holds, the bias will be bullish.

From the current level, we anticipate a gradual upswing, which can lift lead futures to ₹203 in the near-term. Resistance above ₹203 is at ₹206.

On the other hand, if lead futures lose traction and falls from the current level, it can find support at ₹192. In case this base is breached, it will open the door for a decline to ₹188.

Overall, as it stands, the inclination is bullish which is supported by the fact that the price is above the 21-day moving average, which is now at ₹193.10. 

Trade strategy

Last week, we suggested buying lead futures (April) at ₹195 with a stop-loss at ₹192. Traders can retain this position. When the price rises to ₹198, raise the stop-loss to ₹195. Book profits at ₹203. 

Published on April 16, 2026