What is Support & Resistance ?
MCX Support and resistance levels are used to indicate the points at which a stock might not fall below or not trade above, without a certain amount of difficulty. At these levels, a stock may see some support, or might break right through it on its way to either new lows or highs of level. This is very useful to get more decision making for prediction of high low for any commodity elements.
Support and resistance is a concept in technical analysis that the movement of the price of a security will tend to stop and reverse at certain predetermined price levels. Support and resistance levels are areas where prices may stop and turn. Knowing where this might happen helps you enter and exit your trades at the most profitable times. Support and resistance levels are not precise price points. Rather, they are general price ranges.
|COMMODITY||SUP 2||SUP 1||PIVOT||RES 1||RES 2|
|ALUMINIUM - MAY||125.10||125.70||126.15||126.75||127.20|
|COPPER - JUN||365.05||368.35||372.0||374.60||377.85|
|CRUDE OIL - MAY||3035||3108||3205||3265||3330|
|GOLD - JUN||28550||28605||28685||28740||28820|
|LEAD - MAY||131.65||132.90||133.85||135.20||136.15|
|NAT GAS - MAY||205.40||208.20||212.40||215.20||219.40|
|NICKEL - MAY||575.10||578.50||585.10||588.45||594.90|
|SILVER - JULY||39614||39708||39880||40090||40290|
|ZINC - MAY||166.90||168.20||169.65||170.95||172.35|
WHAT IS SUPPORT OR SUPPORT LEVEL IN TECHNICAL ANALYSIS ?
Mcx Intraday Support level is the price at which buyers are expected to enter the market in sufficient numbers to take control from sellers. The market has a memory. When price falls to a new Low and then rallies, buyers who missed out on the first trough will be inclined to buy if price returns to that level. Afraid of missing out for a second time, they may enter the market in sufficient numbers to take control from sellers. The result is a rally, reinforcing perceptions that price is unlikely to fall further and creating a support level.
A Mcx Support level is a price level where the price tends to find support as it is going down. This means the price is more likely to “bounce” off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely to continue dropping until it finds another support level. This same matter implies to MCX SUPPORT TRADING LEVEL also.
WHAT IS RESISTANCE OR RESISTANCE LEVEL IN TECHNICAL ANALYSIS ?
A resistance level is the price level at which sellers are expected to enter the market in sufficient numbers to take control from buyers. When price makes a new High and then retreats, sellers who missed the previous peak will be inclined to sell when price returns to that level. Afraid of missing out a second time, they may enter the market in numbers sufficient to overwhelm buyers. The resulting correction will reinforce market perceptions that price is unlikely to move higher and establish a resistance level.
A resistance trading level is the opposite of a support level. It is where the price tends to find resistance as it is going up. This means the price is more likely to “bounce” off this level rather than break through it. However, once the price has passed this level, by an amount exceeding some noise, it is likely that it will continue rising until it finds another resistance level. This same matter implies to MCX RESISTANCE also.
THE IMPORTANCE OF SUPPORT & RESISTANCE LEVEL REPORT
Support and resistance analysis is an important part of trends because it can be used to make trading decisions and identify when a trend is reversing. For example, if a trader identifies an important level of resistance that has been tested several times but never broken, he or she may decide to take profits as the security moves toward this point because it is unlikely that it will move past this level.
Support and resistance levels both test and confirm trends and need to be monitored by anyone who uses technical analysis. As long as the price of the share remains between these levels of support and resistance, the trend is likely to continue. It is important to note, however, that a break beyond a level of support or resistance does not always have to be a reversal. For example, if prices moved above the resistance levels of an upward trending channel, the trend has accelerated, not reversed. This means that the price appreciation is expected to be faster than it was in the channel.
Being aware of these important support and resistance points should affect the way that you trade a stock. Traders should avoid placing orders at these major points, as the area around them is usually marked by a lot of volatility. If you feel confident about making a trade near a support or resistance level, it is important that you follow this simple rule: do not place orders directly at the support or resistance level. This is because in many cases, the price never actually reaches the whole number, but flirts with it instead. So if you’re bullish on a stock that is moving toward an important support level, do not place the trade at the support level. Instead, place it above the support level, but within a few points. On the other hand, if you are placing stops or short selling, set up your trade price at or below the level of support.
One can get perfect and sure movement margin of any Commodity Element to Trade in Mcx Commodity market using Support & Resistance Level report.