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 16th December’14

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 26821 27071 27285 27535 27749
Silver 37776 38046 38467 38737 39158
Copper 405.78 407.87 411.38 413.47 416.98
Nickel 1030 1038 1051 1059 1072
Lead 123.87 124.28 124.92 125.33 125.97
Zinc 136.08 137.27 137.98 139.17 139.88
Aluminium 120.12 120.88 121.52 122.28 122.92
Crude Oil 3483 3540 3620 3677 3757
Natural Gas 230.20 234.30 240.30 244.40 250.40

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