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MCX Metals Support and Resistance for 1st 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 1st February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

110.05

110.65

111.50

112.10

112.95

Copper MCX Feb-13

434.93

436.67

440.78

442.52

446.63

Nickel MCX Jan-13

964.40

972.50

981.40

989.50

998.40

Lead MCX Jan-13

127.77

128.63

129.87

130.73

131.97

Zinc MCX Jan-13

112.35

113.15

114.20

115.00

116.05