Lead futures: A rebound in the cards

Lead futures recorded a lifetime high of ₹207.40 (per kg) on January 29. However, the contract has been on a decline since then. While the volatility has been higher, the price moderated and the contract is now hovering around at ₹187.

As per the prevailing price action, there is a chance for lead futures to dip further. But there is a notable support at ₹184 and a decline beyond this level is unlikely.

A rally, either from the current level of ₹187 or after a dip to ₹184, can lift lead futures to ₹196, a notable resistance. After reaching this level, the contract can witness a decline in price.

On the other hand, instead of a rebound, if lead futures breaches the support at ₹184, it can find an immediate support at ₹182. But breaking down below ₹182 can turn the near-term outlook weak and possibly drag the contract to ₹176.

Overall, as it stands, the likelihood for a rally is high.

Trade strategy

Retain the long that we suggested to initiate at ₹187. Add long if the price dips to ₹185. Maintain stop-loss at ₹181. When the contract reaches ₹190, revise the stop-loss to ₹188. When the contract rises to ₹194, modify the stop-loss to ₹191. Exit at ₹196.

Published on February 16, 2026