MTECHTIPS:Pepper could see short covering rallies

Pepper Dec NCDEX: Prices initially traded lower, making a low of 36750, closed the last session at 37500 levels. As long as prices stay below 38200, anticipates downside correction towards 37000 followed by 36750 or flushing to 36200 levels. Meanwhile, the indicators are still treading at oversold state likely to limit strong selling. On the higher side, unexpected rise above 38300 could see short covering rallies.



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