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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 absence 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

Nifty Future Levels for 16th Jan’13