Pepper ended steady as arrivals pressured sentiment, but bargain buying on lower levels supported prices. 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. Spot pepper fell over a rupee to end at 13,386.8 rupees per 100 kg in Kochi.

February delivery settled steady at Rs 13248/quintal. The contract touched the intraday high of Rs 13410/quintal while low of Rs 13110/quintal. Now support for the pepper is seen at 13102 and below could see a test of 12956. Resistance is now likely to be seen at 13402, a move above could see prices testing 13556.

Trading Ideas:

Pepper trading range is 13000-13500.

Pepper yesterday as per expectation fall from 13350 level till 13200.

Resistance for the pepper is at 13400 and support is at 13100.

Spot pepper fell over a rupee to end at 13,386.8 rupees per 100 kg

Demat stock of pepper at NCDEX-monitored warehouses fell by 51 tonnes to 5308 tonnes

SELL PEPPER FEB @ 13350 SL 13460 TGT 13300-13245-13200-13145.NCDEX