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MCX Metals Support & Resistance for 18th 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 18th January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

108.30

108.90

109.80

110.40

111.30

Copper MCX Feb-13

433.12

436.38

438.57

441.83

444.02

Nickel MCX Jan-13

941.00

945.60

949.70

954.30

958.40

Lead MCX Jan-13

121.48

122.47

123.23

124.22

124.98

Zinc MCX Jan-13

106.30

107.20

107.80

108.70

109.30