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MCX Metals Support and Resistance for 6th 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 6th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

110.72

111.08

111.57

111.93

112.42

Copper MCX Feb-13

440.33

441.42

443.08

444.17

445.83

Nickel MCX Feb-13

984.10

989.50

992.40

997.80

1000.70

Lead MCX Feb-13

129.08

129.72

130.23

130.87

131.38

Zinc MCX Feb-13

114.25

114.70

115.10

115.55

115.95