The prices of pepper are currently in a strong uptrend. The prices were consolidating in a broad
range of Rs 32540 to Rs 33620 levels over the past few sessions of trade.
But, as outlined in the chart bove the price of pepper has registered a breakout on a closing basis from this consolidation range.
Some of the other key technical factors that confirm the validity of the breakout are the strong surge in volumes and the MACD indicator is also giving a buy signal.
All the above mentioned technical factors point that the price of pepper can start a fresh rally
from current levels.
We recommend traders to buy between Rs 33775--Rs 33625 levels with a stop loss placed below
Rs 33107 levels for upside targets of Rs 34225 / Rs 34575 levels expected to be achieved over the upcoming 2-3 sessions of trade.
No comments:
Post a Comment