Pepper ended down as little or no export demand and expectations of imminent arrivals hurt sentiment. New crop arrivals will start from January and prices will weaken further in the coming weeks. However, losses were limited by low stocks in the country. Spot markets in Kochi remained shut yesterday for local festival holidays.

January delivery dropped Rs 221 and settled at Rs 14137/quintal. The contract touched the intraday high of Rs 14447/quintal while low of Rs 14054/quintal. Now support for the pepper is seen at
13978 and below could see a test of 13820. Resistance is now likely to be seen at 14371, a move above could see prices testing 14606.

Trading Ideas:

Pepper trading range is 13800-14450.

Pepper yesterday ended down low export demand

New crop arrivals will start from January which looks to weigh on prices

Spot markets in Kochi remained shut yesterday for local festival holidays

BUY PEPPER JAN @ 14000-14050 SL 13880 TGT 14120-14210-14340.NCDEX