Pepper snapped a five-day losing streak on buying support at lower levels driven by lower carry forward stocks. Spot pepper slipped 23 rupees to end at 13,233 rupees per 100 kg in Kochi. Indian December pepper exports stood at 1,750 tonnes, down 32 percent on year. March delivery gained Rs 233 and settled at Rs 13145/quintal. The contract touched the intraday high of Rs 13211/quintal while low of Rs 12920/quintal. Now support for the pepper is seen at 12973 and below could see a test of 12801. Resistance is now likely to be seen at 13264, a move above could see prices testing 13383.

Trading Ideas:

Pepper trading range is 12801-13383.

Pepper ended higher on buying support at lower levels driven by lower carry forward stocks

NCDEX warehouse stocks seen at 4199 tonnes as on 8 Feb.

Spot pepper market fell slipped 23 rupees to end at 13,233 rupees per 100 kg in Kochi.

SELL PEPPER MAR @ 13150 SL 13270 TGT 13090-13010-12940.NCDEX

Support for the pepper is seen at 12970 and resistance is at 13264.