NCDEX pepper slumps, resistance at Rs. 33600-338 (Nov 5)

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Lacklustre trades at the domestic are likely to keep pepper prices down in the intraday. In the short term (November 2011) price trend is expected to remain firm as Vietnam the major producer and exporter has limited stocks.

However, in the medium term (December) prices are likely to take cues from stocks left in domestic along with price quotes offered by Indonesia and Vietnam in the international market for their pepper origins.

Black Pepper NCDEX Nov Futures Rs/qtl support: 32720-32900 resistance: 33600-338

Source: http://www.commodityonline.com/futures-trading/trading-tips/NCDEX-pepper-slumps-resistance-at-Rs.-33600-338:-Angel-15460.html

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