Support & Resistance

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.
Support is the level where a stock 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 stock at support levels and sell at resistance levels.
In Intraday, there are few support and resistance levels known as Support1, Support2, Resistance1, Resistance2, etc.

Support Resistance Levels for Major MCX Commodity Futures for October 01, 2014

 

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 26641 26863 27014 27236 27387
Silver 37426 37961 38645 39180 39864
Copper 412.38 414.22 417.33 419.17 422.28
Nickel 1004 1010 1022 1028 1039
Lead 126.57 127.53 128.47 129.43 130.37
Zinc 139.90 140.50 141.35 141.95 142.80
Aluminium 118.20 118.70 119.25 119.75 120.30
Crude Oil 5501 5585 5734 5818 5967
Natural Gas 253.03 255.67 257.43 260.07 261.83

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