Pepper futures on extended the gains for the second consecutive trading sessions lead by fresh buying at lower levels. March delivery gained Rs 196 and settled at Rs 13202/quintal. The contract touched the intra day high of Rs 13247/quintal while low of Rs 13019/quintal. Open interest in the contract added 4.62 percent to 6,451 tonnes, indicating fresh buying and volume traded dipped to 2,113 tonnes from 2,425 tonnes.

March futures gained some strength after the futures consolidated in the ranges of Rs 12867-12885 per 100 kg. Now support for the pepper is seen at 13065 and below could see a test of 12928. Resistance is now likely to be seen at 13293, a move above could see prices testing 13384.

Trading Ideas:

Pepper trading range is -8831-17663.

Pepper futures on extended the gains for the second consecutive trading sessions lead by fresh buying at lower levels.

In the international market new pepper is expected soon with the price range of USD 2,900-2,925 per ton

Spot pepper jumped 12 rupees to end at 13,225 rupees per 100 kg in Kochi

BUY PEPPER MAR @ 13100-150 SL 130000 TGT 13220-13294-13365.NCDEX

Support for the pepper is seen at 13056 and resistance is at 13340.