Pepper futures ended firm and march delivery jumped Rs 112 and settled at Rs 13370/quintal on fresh buying driven by a firm spot market and depleting carry-forward stocks. Also some support has been seen from the short covering as markets traded above 13100 mark also fresh enquiries are coming from Europe. Also, in the domestic market which is holding the prices above 13100 marks.

Spot pepper gained 44 rupees to end at 13,349 rupees per 100 kg in Kochi, a major trading hub in Kerala. India's pepper output in 2010 is expected around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks. The contract touched the intra day high of Rs 13431/quintal while low of Rs 13233/quintal. Now support for the pepper is seen at 13258 and below could see a test of 13147. Resistance is now likely to be seen at 13456, a move above could see prices testing 13543.

Trading Ideas:

Pepper trading range is -4507-22355.

Pepper futures ended firm on fresh buying driven by a firm spot market and depleting carry-forward stocks.

Short covering and fresh enquiries are coming from Europe are supporting the prices.

Spot pepper gained 44 rupees to end at 13,349 rupees per 100 kg in Kochi, a major trading hub in Kerala.

BUY PEPPER MAR @ 13300 SL 13220 TGT 13345-13390-13465.NCDEX

Support for the pepper is seen at 13240 and resistance is at 13460 today some profit booking can be seen.