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MCX Metals Support & Resistance for 17th December 2012

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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, , MCX Nickel, MCX Lead and MCX Zinc December-12 &   MCX Copper (February-13), Support and Resistance Levels  for 17th December 2012;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Dec-12

114.60

114.65

114.75

114.80

114.90

Copper MCX Feb-13

444.55

444.85

445.35

445.65

446.15

Nickel MCX Dec-12

967.57

968.73

970.17

971.33

972.77

Lead MCX Dec-12

124.03

124.12

124.28

124.37

124.53

Zinc MCX Dec-12

112.27

112.33

112.47

112.53

112.67