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NCDEX Support and Resistance Levels for 8th Jan’13

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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

Chana, Jeera and Soya Bean Support and Resistance Levels for 08th January, 2013;

NCDEX Agri Commodities Support and Resistance
Commmodity Sup2 Sup1 Pivot Res1 Res2
Chana 3921 3970 3999 4048 4077
Jeera 14250 14470 14595 14815 14940
Soya Bean 3069 3095 3132 3158 3195