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Special Technical Report on NCDEX Pepper, 18th February, 2013

Special Technical Report on NCDEX Pepper, 18th February, 2013

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Published by Angel Broking
18th February, 2013
18th February, 2013

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Categories:Types, Business/Law
Published by: Angel Broking on Feb 18, 2013
Copyright:Attribution Non-commercial


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Special Technical Report

Monday | February 18, 2013

Special Technical Report on NCDEX Pepper March contract Strategy / Recommendations

Prepared by Technical Team
Anuj Gupta - Sr. Technical Analyst Anuj.Gupta@angelbroking.com (022) 2921 2000 Extn. 6137

Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor, Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX : Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302

Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on commodities@angelbroking.com


Special Technical Report
Monday | February 18, 2013

NCDEX PEPPER March Contract (CMP: - 37,820)

As seen above in NCDEX Pepper March Weekly price chart, last week prices closed almost 3.4% higher with “Substantial Volume” and making a high of 37,400 levels, which was also a strong resistance level. Today, we are seeing that prices have breached the strong resistance at 37,400 levels along with last “Three weeks Trend line and High” and are trading above it. Prices are trading above its 10 day EMA (Exponential Moving Average) indicating positivity in the prices. As per the Fibonacci retracement drawn from Point “X” to Point “A”, prices are trading above 61.8% and 78.6% retracement. The potential support zone are 36,700 levels (61.8%), 35,900 levels (50%) and 35,200 levels (38.2%) and resistance could be seen at 39,100 (100%) and 40,800 (127%). The combination of Trend line break with substantial volumes along with Moving Average positivity one can adopt buy strategy for NCDEX Pepper March contract for near term trading perspective. Strategy (7 – 10 Days) – Buy NCDEX Pepper March between 37100 to 37400, SL – 35900, Target – 39100 / 40000


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