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MCX Metals Support & Resistance for 11th 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 11th January, 2013;

 

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

112.17

113.23

113.87

114.93

115.57

Copper MCX Feb-13

444.53

446.77

448.98

451.22

453.43

Nickel MCX Jan-13

940.63

947.37

957.43

964.17

974.23

Lead MCX Jan-13

126.28

127.02

127.48

128.22

128.68

Zinc MCX Jan-13

109.33

110.17

110.68

111.52

112.03