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MCX Metals Support and Resistance Levels for 8th 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.t

MCX Alluminium, Nickel, Copper, Lead and MCX Zinc Support and Resistance Levels for 08th January, 2013;

MCX Metal Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
MCX Copper Nov-12 446.20 448.60 450.70 453.10 455.20
MCX Nickel Oct-12 943.20 950.30 958.30 965.40 973.40
MCX Lead Oct-12 124.53 125.87 127.53 128.87 130.53
MCX Zinc Oct-12 109.70 110.45 111.40 112.15 113.10
MCX Alluminnium Oct-12 111.17 112.38 112.72 113.83 114.87