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MCX Metals Support & Resistance for 01st January 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.t

MCX Alluminium, Copper, Nickel, Lead and MCX Zinc Support and Resistance Levels for 01st January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

111.87

112.43

113.07

113.63

114.27

Copper MCX Feb-13

438.17

440.83

442.52

445.18

446.87

Nickel MCX Jan-13

936.07

941.43

947.47

952.83

958.87

Lead MCX Jan-13

125.72

126.48

127.17

127.93

128.62

Zinc MCX Jan-13

111.72

112.33

112.92

113.53

114.12