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    HomeNewsBusinessStocksNCDEX Pepper may slip to Rs 33450: Sharekhan

    NCDEX Pepper may slip to Rs 33450: Sharekhan

    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.

    April 09, 2013 / 11:19 IST

    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.

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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    first published: Apr 9, 2013 11:19 am

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