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MCX Metals Support and Resistance for 8th 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 8th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

109.50

110.50

111.00

112.00

112.50

Copper MCX Feb-13

437.95

439.65

441.15

442.85

444.35

Nickel MCX Feb-13

965.40

968.70

973.30

976.60

981.20

Lead MCX Feb-13

127.13

128.12

128.68

129.67

130.23

Zinc MCX Feb-13

113.28

114.12

114.58

115.42

115.88