Pepper ended steady as pressure from new arrivals was offset by bargain buying. Pepper output in 2010 is expected to be around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks. Spot pepper fell by over 77 rupees to end at 13,640.05 rupees per 100 kg in Kochi. February delivery gained Rs 17 and settled at Rs 13514/quintal. The contract touched the intraday high of Rs 13597/quintal while low of Rs 13381/quintal. Now support for the pepper is seen at 13398 and below could see a test of 13281. Resistance is now likely to be seen at 13614, a move above could see prices testing 13713.

Trading Ideas:

Pepper trading range is 13250-13750.

Pepper ended steady as pressure from new arrivals was offset by bargain buying

Support for the pepper is at 13400 and resistance at 13610.

Spot pepper fell by over 77 rupees to end at 13,640.05 rupees per 100 kg

NCDEX accredited warehouses stock of pepper rose by 8 tonnes as on Jan 28.

BUY PEPPER FEB ABV 13560 SL 13430 TGT 13610-13685-13725-13780.NCDEX