Browse By

NCDEX Support and Resistance Levels for 7th Jan’13

Make My Trade | India (www.makemytrade.in)

  • 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

Chana, Jeera and Soya Bean Support and Resistance Levels for 07th January, 2013;

NCDEX Agri Commodities Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Chana 3879 3907 3927 3955 3975
Jeera 14190 14280 14430 14520 14670
Soya Bean 3085 3117 3154 3186 3223