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MCX Metals Support and Resistance for 22nd 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 22nd February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

110.40

111.00

111.60

112.20

112.80

Copper MCX Feb-13

424.05

426.70

429.30

431.95

434.55

Nickel MCX Feb-13

893.50

903.30

912.80

922.60

932.10

Lead MCX Feb-13

123.93

125.17

126.08

127.32

128.23

Zinc MCX Feb-13

112.83

113.77

114.28

115.22

115.73