The ever increasing demand for mobile devices especially smartphones poses newer challenges concerning data management in wireless environment. These devices have lot of constraints such as limited memory, small display size, battery power and intermittent wireless connectivity to the network. Data management and multimodal aspect of data needs to be addressed in such an environment. Caching is one of the most important techniques for faster access of data. In order to deal with limited cache space in mobile devices; Cooperative Caching Environment technique was introduced. It is widely seen as an adequate solution to improve the system performance in mobile P2P networks. This paper investigates Cooperative Caching technique which is built with the help of Mobile Peer-2-Peer (P2P) network. The proposed mechanism in this work aims to increase the probability of cache hits in the system.