Pepper closed lower weighed by weak export demand, but thin stocks and firm domestic demand kept the downside limited. Spot pepper fell by 36.5 rupees to end at 14,843.60 rupees per 100 kg in Kochi. December delivery dropped Rs 143 and settled at Rs 15040/quintal. The contract touched the intraday high of Rs 15269 / quintal while low of Rs 14910/quintal. Now support for the pepper is seen at 14877 and below could see a test of 14714. Resistance is now likely to be seen at 15236, a move above could see prices testing 15432.

Trading Ideas:

PEPPER TRADING RANGE IS 14700-15250

PEPPER CLOSED LOWER WEIGHED BY WEAK EXPORT DEMAND

BUY PEPPER DEC @ 14800-860 SL 14720 TGT 14960-15040-15170.NCDEX

PEPPER IS GETTING SUPPORT AT 14960 BELOW THIS LOOKS TILL 14840-14720.

SPOT PEPPER FELL BY OVER 36 RUPEES TO END AT 14843.60 RUPEES PER 100 KG

OVERALL MARKET LOOKING STRONG WILL BUY ON SOME DIP TILL 14800 LEVEL

Commodity Analysis by Kedia Commodity, India's Premium Research House, Mumbai. Check out more commodity reviews at KediaCommodity. com