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MCX Metals Support & Resistance for 14th 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 14th January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

113.27

113.68

114.32

114.73

115.37

Copper MCX Feb-13

442.70

444.10

446.40

447.80

450.10

Nickel MCX Jan-13

946.90

955.00

959.40

967.50

971.90

Lead MCX Jan-13

125.00

125.60

126.65

127.25

128.30

Zinc MCX Jan-13

109.15

109.60

110.30

110.75

111.45