The price of Pepper has registered an inverted head and shoulders breakout during the previous session. This is a bullish formation and the measuring implication of the pattern suggests that the price can advance to levels of Rs 30000 and/or Rs 30250 levels. The momentum indicators are also in buy mode which displays strength in the counter. Thus, traders can look to buy between Rs 29650--Rs 29300 levels with a stop loss placed below Rs 29047 levels for the above mentioned targets.
Tuesday, June 07, 2011
NCDEX Pepper June (CMP Rs 29561)
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