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MCX Metals Support & Resistance for 10th 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, Nickel, Copper, Lead and MCX Zinc Support and Resistance Levels for 10th January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

110.90

112.00

113.20

114.30

115.50

Copper MCX Feb-13

444.37

445.78

448.52

449.93

452.67

Nickel MCX Jan-13

946.73

954.77

960.03

968.07

973.33

Lead MCX Jan-13

125.45

126.25

127.40

128.20

129.35

Zinc MCX Jan-13

108.58

109.32

110.53

111.27

112.48