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MCX Metals Support and Resistance for 23rd January 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 23rd January 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

107.28

108.37

108.98

110.07

110.68

Copper MCX Feb-13

435.60

437.90

439.20

441.50

442.80

Nickel MCX Jan-13

925.53

930.47

934.73

939.67

943.93

Lead MCX Jan-13

122.47

123.73

124.47

125.73

126.47

Zinc MCX Jan-13

108.00

109.00

109.55

110.55

111.10