Sell Cocud below Rs 1350: Geojit Comtrade

Geojit Comtrade has come out with its report on Cocud, CPO and Kapas. According to the research firm, one can sell Cocud below Rs 1350, Kapas on pullbacks and CPO obove Rs 443.

Cocud Feb NCDEX: Prices broke the key support of 1367 and traded lower to settle the previous session at 1355 levels. Immediate support is seen at 1350, if broken; expect further downside correction towards 1336 followed by 1320 levels for the day. Volumes are gaining momentum, signifying strong selling pressure for the coming sessions. On the flipside, abrupt rise above 1390 could dent our bearish expectations.

Pepper Feb NCDEX: Pepper prices slipped down from a high of 37205 and later closed the day at 36875 levels. A rigid support is seen at 36440, which could bring back an upside momentum in the counter towards 37300/37800 levels in the immediate run. Slipping past below 36400 could extend the present profit booking till 35900 levels for the day. Meanwhile, major weakness is seen only below 35600.

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.

To read the full report click on the attachment

Read More