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MCX Important Trading Levels for 12th 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 12, 2014

Commodity Future Sup 2 Sup 1 Pivot Res 1 Res 2
Gold Oct’14 28457 28552 28622 28717 29787
Silver Sep’14 43144 43366 43634 43856 44124
Copper Aug’14 426.92 428.38 430.57 432.03 434.22
Nickel Aug’14 1120 1132 1139 1150 1157
Lead Aug’14 135.13 136.52 137.43 138.82 139.73
Zinc Aug’14 138.55 139.80 140.85 142.10 143.15
Aluminium Aug’14 122.82 123.53 124.27 124.98 125.72
Crude Oil Aug’14 5947 5980 6007 6040 6067
Natural Gas Aug’14 237.53 240.27 243.43 246.17 249.33