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MCX Metals Support and Resistance for 28th 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 28th January 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

107.18

108.42

109.48

110.72

111.78

Copper MCX Feb-13

431.52

434.63

437.62

440.73

443.72

Nickel MCX Jan-13

925.13

932.17

933.93

940.97

942.73

Lead MCX Jan-13

125.30

126.20

127.70

128.60

130.10

Zinc MCX Jan-13

109.72

110.48

111.52

112.28

113.32