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MCX Metals Support & Resistance for 28th February 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 Metals Support and Resistance for 28th February 2013

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Feb-13

104.50

105.25

106.40

107.15

108.30

Copper MCX Feb-13

418.25

419.90

422.60

424.25

426.95

Nickel MCX Feb-13

884.03

890.07

897.53

903.57

911.03

Lead MCX Feb-13

123.03

123.52

124.28

124.77

125.53

Zinc MCX Feb-13

110.18

110.97

112.43

113.22

114.68