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MCX Metals Support and Resistance for 4th 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 4th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

109.93

111.12

111.83

113.02

113.73

Copper MCX Feb-13

436.62

440.43

442.42

446.23

448.22

Nickel MCX Feb-13

967.00

978.50

988.90

1000.40

1010.80

Lead MCX Feb-13

128.25

129.45

130.10

131.30

131.95

Zinc MCX Feb-13

112.63

113.87

114.53

115.77

116.43