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 September 23, 2014

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 26175 26372 26510 26707 26845
Silver 38518 39042 39353 39877 40188
Copper 412.05 413.95 414.70 416.60 417.35
Nickel 1020 1028 1039 1047 1058
Lead 123.70 125.05 125.75 127.10 127.80
Zinc 133.87 135.03 135.77 136.93 137.67
Aluminium 116.62 117.83 118.52 119.73 120.42
Crude Oil 5514 5546 5585 5617 5656
Natural Gas 231.07 233.33 234.77 237.03 238.47

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