Sharekhan has come out with its report on Pepper. According
to the research firm, the daily momentum indicator has completed its
pullback cycle. Thus the risk-reward ratio is very much favorable for
initiating fresh short position in NCDEX Pepper. The equality target on
the downside would be Rs 33450.
For the last few weeks NCDEX pepper has been trading in between the daily, middle and lower Bollinger Bands. In terms of price pattern this sideways activity has taken form of a bearish triangle. The daily momentum indicator has completed its pullback cycle. Thus at this level the risk-reward ratio is very much favorable for initiating fresh short position. The reversal can be placed above the swing high i.e. Rs 36,200. The equality target on the downside would be Rs 33, 450.
http://www.moneycontrol.com/news/brokerage-recos-commodities/ncdex-pepper-may-slip-to-rs-33450-sharekhan_849380.html
For the last few weeks NCDEX pepper has been trading in between the daily, middle and lower Bollinger Bands. In terms of price pattern this sideways activity has taken form of a bearish triangle. The daily momentum indicator has completed its pullback cycle. Thus at this level the risk-reward ratio is very much favorable for initiating fresh short position. The reversal can be placed above the swing high i.e. Rs 36,200. The equality target on the downside would be Rs 33, 450.
http://www.moneycontrol.com/news/brokerage-recos-commodities/ncdex-pepper-may-slip-to-rs-33450-sharekhan_849380.html
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