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MCX Metals Support & Resistance for 3rd 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, Copper, Nickel, Lead and MCX Zinc Support and Resistance Levels for 03rd January, 2013;

Commodity

Support 2

Support 1

Pivot

Resistance 1

Resistance 2

Aluminium MCX Jan-13

112.07

114.23

115.32

117.48

118.57

Copper MCX Feb-13

440.75

445.60

449.00

453.85

457.25

Nickel MCX Jan-13

942.93

953.17

958.63

968.87

974.33

Lead MCX Jan-13

126.20

128.70

130.10

132.60

134.00

Zinc MCX Jan-13

112.23

113.72

114.83

116.32

117.43