Pepper ended steady as support from low level buying was offset by pressure from arrivals. However, losses will be limited as domestic demand is strong and arrivals in the spot market are lower than expected. Spot pepper rose by over 34 rupees to end at 13,674.1 rupees per 100 kg in Kochi.

February delivery gained Rs 24 and settled at Rs 13542/quintal. The contract touched the intraday high of Rs 13620/quintal while low of Rs 13454/quintal. Now support for the pepper is seen at 13457 and below could see a test of 13373. Resistance is now likely to be seen at 13623, a move above could see prices testing 13705.

Trading Ideas:

Pepper trading range is 13200-13800.

Pepper ended steady as support from low level buying was offset by pressure from arrivals

Support for the pepper is at 13460 and resistance at 13620.

Spot pepper gained by over 34 rupees to end at 13,674.10 rupees per 100 kg

NCDEX accredited warehouses stock of pepper fell by 4 tonnes to 5050 tonnes.

MARKET IS TRADING IN THE RANGE 13400-13650 WAIT FOR ENTRY