Pepper ended weak as new arrivals which started this month weighed on sentiment. Pepper at the spot market saw slight improvement in price though the tone remained bearish. Arrivals stood steady at 300 quintal, with harvesting picking pace in the coming days. Spot pepper rose by over 63 rupees to end at 13,510.75 rupees per 100 kg in Kochi. February delivery gained Rs 6 and settled at Rs 13392/quintal. The contract touched the intraday high of Rs 13469/quintal while low of Rs 13240/quintal. Now support for the pepper is seen at 13265 and below could see a test of 13138. Resistance is now likely to be seen at 13494, a move above could see prices testing 13596.

Trading Ideas:

Pepper trading range is 13150-13650.

Pepper ended weak as new arrivals weighed on prices

Resistance for the pepper is at 13495 and support is at 13265.

Spot pepper rose by 63 rupees to end at 13510.75 rupees per 100 kg

Arrivals of pepper stood steady at 300 quintal

BUY PEPPER FEB @ 13300-13340 SL 13224 TGT 13390-13465-13560.NCDEX