Pepper ended up on lower-level buying and also supported by hopes of pick up in export demand. India April-February exports at 17,750 metric tons vs 23,100 tons a year earlier. Talk of import queries by some Middle East trading firms is supporting the market. Arrivals have dried up as harvest is about to end. May delivery gained Rs 154 and settled at Rs 15727/quintal. The contract touched the intra day high of Rs 15820/quintal while low of Rs
15380/quintal. Now support for the pepper is seen at 15465 and below could see a test of 15202. Resistance is now likely to be seen at 15905, a move above could see prices testing 16082.

Trading Ideas:

Pepper trading range is 15202-16082.

Pepper ended up on lower-level buying and on hopes of pick up in export demand

Support for the pepper is at 15630 and resistance is at 15840.

Yesterday we have seen open interest has rose by 690 and volume by 1154.

Spot pepper prices fell 54 rupees to end at 15,268 rupees per 100 kg

SELL PEPPER MAY BELOW 15540 SL 15620 TGT 15480-15422-15360. NCDEX