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MCX Metals Support and Resistance for 18th February 2013

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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.

MCX Metals Support and Resistance for 18th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

113.77

114.77

115.48

116.52

117.23

Copper MCX Feb-13

442.90

445.60

447.55

450.25

452.20

Nickel MCX Feb-13

976.53

985.27

990.83

999.57

1005.53

Lead MCX Feb-13

128.27

130.28

131.42

133.43

134.57

Zinc MCX Feb-13

115.83

116.57

117.38

118.12

118.93