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MCX Metals Support and Resistance Levels for 21st Jan’13

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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 Metal Support and Resistance for 21st January 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

108.55

108.80

109.15

109.40

109.75

Copper MCX Feb-13

438.17

438.33

438.62

438.78

439.07

Nickel MCX Jan-13

943.20

943.60

944.30

944.70

945.60

Lead MCX Jan-13

123.47

123.73

123.87

124.13

124.27

Zinc MCX Jan-13

108.78

109.02

109.18

109.42

109.58