Pepper ended up as bargain buying and firm domestic demand supported sentiment. Fundamentals remained under pressure as new arrivals weighed on sentiment. Spot pepper rose by over 92 rupees to end at 13,766.85 rupees per 100 kg in Kochi. February delivery gained Rs 144 and settled at Rs 13677/quintal. The contract touched the intraday high of Rs 13750/quintal while low of Rs 13505/quintal. Now support for the pepper is seen at 13538 and below could see a test of 13399. Resistance is now likely to be seen at 13783, a move above could see prices testing 13889.

Trading Ideas:

Pepper trading range is 13400-13850.

Pepper ended up as bargain buying and firm domestic demand supported prices

Support for the pepper is at 13540 and resistance at 13780.

Spot pepper gained by over 92 rupees to end at 13,766.85 rupees per 100 kg

BUY PEPPER FEB @ 13500-550 SL 13420 TGT 13622-13689-13750.NCDEX

NCDEX accredited warehouses stock of pepper fell by 72 tonnes to 4978 tonnes