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MCX Metals Support & Resistance for 22nd 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.

MCX Metal Support and Resistance for 22nd January 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

107.15

107.60

108.35

108.80

109.55

Copper MCX Feb-13

434.18

435.17

437.08

438.07

439.98

Nickel MCX Jan-13

921.90

927.00

936.70

941.80

951.50

Lead MCX Jan-13

122.60

122.90

123.40

123.70

124.20

Zinc MCX Jan-13

107.85

108.02

108.75

109.10

109.65