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MCX Important Trading Levels for 11th August 2014

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Support and Resistance

      • Trading as per support and resistance levels may be quite useful for intraday trading in commodities.
      • Resistance is termed as the level where the commodity generally gets some opposite force before it can go further up.
      • Support is the level where a stock get buying interest before it can fall further.
      • Under the normal market conditions or in the absence of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying/selling.
      • In general, it is advisable to buy the stock at support levels and sell at resistance levels.
      • In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.

MCX Commodities Support and Resistance Levels

Date: Aug 11, 2014

Commodity Future Sup 2 Sup 1 Pivot Res 1 Res 2
Gold Oct’14 28232 28414 28748 28930 29264
Silver Sep’14 42944 43249 43778 44083 44612
Copper Aug’14 426.93 428.42 430.58 432.07 434.23
Nickel Aug’14 1110 1121 1143 1154 1176
Lead Aug’14 135.20 136.05 137.50 138.35 139.80
Zinc Aug’14 138.67 139.48 140.92 141.73 143.17
Aluminium Aug’14 122.47 123.18 123.82 124.53 125.17
Crude Oil Aug’14 5896 5935 6000 6039 6104
Natural Gas Aug’14 236.63 239.97 241.83 245.17 247.03