Geojit Comtrade advises to buy Kapas on dips

Geojit Comtrade has come out with its report on Gur, Soybean and Kapas. According to the research firm, one can buy Kapas and Gur on dips and sell soybean on pullbacks.

Pepper Nov NCDEX: Prices rebounded from 13 day EMA support at 43650 and closed at 44250. It is required to break above 44500 for the next leg of rally towards 44800 followed by 45200 levels. Conversely, if it breaks the support of 43650 then expect a corrective selling lower towards 43300 followed by 43000 levels in the immediate run.

Kapas April NCDEX: Prices traded higher from a low of 991 and closed the previous session at 1005 levels. A major trendline support is seen at 990, if prices held the same could see a pullback rally towards 1010 followed by 1025 levels in the immediate run. However, break below 990 could see a profit booking towards 975 levels in the near term.

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