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MCX Important Trading Levels for 5th August 2014

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  • 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.
  • A support is the level where a Commodity get buying interest before it can fall further.
  • Under the normal market conditions or in the absense 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 commodities at support levels and sell at the resistance levels.
  • In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.
  • 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 5, 2014

    Commodity Future Sup 2 Sup 1 Pivot Res 1 Res 2
    Gold Oct’14 27935 28026 28156 28247 28377
    Silver Sep’14 43739 43943 44291 44495 44843
    Copper Aug’14 431.53 435.27 437.33 441.07 443.13
    Nickel Aug’14 1117 1125 1131 1139 1144
    Lead Aug’14 132.88 135.72 138.23 141.07 143.58
    Zinc Aug’14 141.32 144.08 145.52 148.28 149.72
    Aluminium Aug’14 119.48 121.62 122.83 124.97 126.18
    Crude Oil Aug’14 5820 5920 6066 6166 6312
    Natural Gas Aug’14 230.43 233.07 234.73 237.37 239.03