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 28th November’14

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 26034 26141 26237 26344 26440
Silver 35266 35577 36015 36326 36764
Copper 400.12 401.88 404.57 406.33 409.02
Nickel 1003 1007 1012 1017 1022
Lead 125.92 126.43 127.12 127.63 128.32
Zinc 138.32 138.98 140.12 140.78 141.92
Aluminium 127.12 127.78 128.82 129.48 130.52
Crude Oil 4069 4180 4373 4484 4677
Natural Gas 250.70 255.80 264.40 269.50 278.10

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