Pepper ended higher on domestic demand and squeezed supply as farmers held back their produce. Domestic buying is encouraging and is likely to pick up more in the coming days ahead of marriage season. Spot pepper gained 424 rupees to end at 16,125 rupees per 100 kg in Kochi. June delivery gained Rs 655 and settled at Rs 17017/quintal. The contract touched the intraday high of Rs 17017/quintal while low of Rs 16425/quintal. Now support for the pepper is seen at 16622 and below could see a test of 16228. Resistance is now likely to be seen at 17214, a move above could see prices testing 17412.

Trading Ideas:

Pepper trading range is 16228-17412.

Pepper ended higher on domestic demand and squeezed supply from farmers

Support for the pepper is seen at 16900 and resistance is at 17140.

NCDEX accredited warehouses pepper stocks fell by 72 tonnes to 2672 tonnes.

Spot pepper gained by 424 rupees to end at 15,125 rupees per 100 kg

SOME PULLBACK TILL 16750 IS EXPECTED WHERE BUYING CAN BE DONE.