Geojit Comtrade has come out with its report on Pepper and Dhaniya. According to the research firm, if NCDEX Dhaniya April Future prices unable to break below the support of Rs 6550 could see a choppy trading session for the day.
Dhaniya Apr NCDEX: Prices nosedived from 6725 and closed the day at 6585 levels. A trend line support is running through 6550, break below the same could see a sharp fall towards 6500 followed by 6460/6380 levels in the near term. Moreover, daily RSI is pointing lower at 44 suggesting further potential for sell off. However, if unable to break below the support of 6550 could see a choppy trading session for the day.
Pepper Mar NCDEX: Prices corrected lower from 36670 and settled the day at 35940. A minor trend line support is seen at 35900, break below the same could see a downside correction towards 35500 followed by 35200 levels. Also, prices cleared a couple of moving averages supporting weak bias in the counter. Acute rise above 37400 could lift prices higher to 38000 levels.
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To read the full report click on the attachment
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