MTECHTIPS:Pepper could resume short covering rallies

Pepper Dec NCDEX: Prices recovered from a two day losing streak and finally settled the day at 38260 levels. While prices trading well below the 13 day EMA resistance at 38900, the trends looks gloomy and expect selling pressure towards 37760/37000 levels. Meanwhile, the indicators are slowly waking up from an oversold state which could limit strong sell-offs. Unexpected rise above 3900 could resume short covering rallies later.



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