Technical Outlook & Trading Strategy:-
We reiterate our bullish bias on the price of pepper. As mentioned in our previous note the price of pepper was consolidating in a narrow trading range over the past few sessions of trade, since it corrected from its all time highs.
The key moving average clusters have been providing good support for the price of pepper.
The momentum indicators continue to trade in buy mode despite the recent correction.
We recommend day / positional traders to take Long positions on a break above Rs 36200 levels with a stop loss placed below Rs 35620 levels for upside targets of Rs 36780 / Rs 370000 levels.
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