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MCX Metals Support and Resistance for 21st 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 21st February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

110.07

111.08

112.27

113.28

114.47

Copper MCX Feb-13

427.32

429.88

434.22

436.78

441.12

Nickel MCX Feb-13

901.20

912.90

930.20

941.90

959.20

Lead MCX Feb-13

125.33

126.12

127.43

128.22

129.53

Zinc MCX Feb-13

113.68

114.32

115.18

115.82

116.68