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MCX Metals Support and Resistance for 20th 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 20th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

111.52

112.08

112.87

113.43

114.22

Copper MCX Feb-13

433.12

435.38

439.02

441.28

444.92

Nickel MCX Feb-13

922.60

933.80

951.40

962.60

980.20

Lead MCX Feb-13

127.28

127.92

128.73

129.37

130.18

Zinc MCX Feb-13

114.50

115.05

115.60

116.15

116.70