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 21st November’14

Commodity Sup 2 Sup 1 Pivot Res 1 Res 2
Gold 26225 26328 26467 26570 26709
Silver 35333 35552 35850 36069 36367
Copper 407.30 409.80 413.10 415.60 418.90
Nickel 987 997 1007 1016 1026
Lead 124.62 125.28 125.77 126.43 126.92
Zinc 138.02 138.48 139.17 139.63 140.32
Aluminium 124.53 125.52 126.08 127.07 127.63
Crude Oil 4595 4635 4669 4709 4743
Natural Gas 255.40 260.10 269.40 274.10 283.40

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