Saturday, 23 February 2013

MCX Agri Commodities Weekly Pivot Supports and Resistances for Feb'25-Mar'02'2013



MCX Agri Commodities Weekly Pivot Supports and Resistances for Feb'25-Mar'2'2013
Commodity
Sup.3
Sup. 2
Sup.1
PP
Resi.1
Resi.2
Resi.3
Cardamom
879.10
913.10
942.10
976.10
1005.10
1039.10
1068.10
Cotton
16950.00
17270.00
17790.00
18110.00
18630.00
18950.00
19470.00
CPO
444.60
451.80
458.60
465.80
472.60
479.80
486.60
Kapas
823.07
852.03
904.37
933.33
985.67
1014.63
1066.97
Kapaskhali
1295.83
1316.17
1347.33
1367.67
1398.83
1419.17
1450.33
Menthaoil
1232.20
1254.10
1278.10
1300.00
1324.00
1345.90
1369.90





Points To Remember when using Pivot levels

Three most important pivot levels are 

Pivot point -P
First Resistance-R1
First Support-S1.

In any MCX Commodity opens above Pivot go for Buy with Target of one(or) two point below First Resistance(R1) level &keeping Stoploss of first support (S1).Mostly, First level(S1/R1) of Weekly pivot levels can be achieved.

In Weekly Pivot levels are useful when MCX market trading in New Range/Levels.Weekly Pivot levels more likely to useful for Trend Reversal/Breakout points.When MCX Market in trading downwards,weekly Pivot levels may give prediciton of Market s downside point/Support/Trend reversal point.


Pivot Points and Support and Resistance levels behave exactly like any historical Support and Resistance level.Pivot Support & Resistance level are 60-80 % merely correlate with Historical support & resistance.

Supports & Resistances are more helpful for fixing MCX Target & Stop loss. For Target in MCX Buying,Keep Target below Resistance level,In Selling Keep target above Support level.
For Stop Loss Fixing in MCX, Buying in MCX  mean Keep Stop loss below Support level,Selling in MCX mean keep Stop loss above Resistance.


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