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MCX Metals Support and Resistance for 31st 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 31st January 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

107.67

108.88

109.57

110.78

111.47

Copper MCX Feb-13

436.63

439.47

440.93

443.77

445.23

Nickel MCX Jan-13

941.90

958.70

967.77

984.50

993.50

Lead MCX Jan-13

127.68

128.87

129.53

130.72

131.38

Zinc MCX Jan-13

111.12

112.43

113.12

114.43

115.12