Pepper march delivery jumped Rs 74 and settled at Rs 13261/quintal on dwindling carry forward stocks, but fresh arrivals and weak exports are seen weighing on prices, Arrivals coming in the market are below traders expectations which is holding the prices above 13000 mark today also we have seen contract touched the intra day high of Rs 13320/quintal while support was gained at of Rs 13160/quintal. Spot pepper gained 110 rupees to end at 13,305 rupees per 100 kg in Kochi, a major trading hub in Kerala. Indian December pepper exports stood at 1,750 tonnes, down 32 percent on year, the Spices Board said. 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, now support for the pepper is seen at 13174 and below could see a test of 13087. Resistance is now likely to be seen at 13334, a move above could see prices testing 13407.

Trading Ideas:

Pepper trading range is -8880-17760.

Pepper jumped nearly Rs100/- on dwindling carry forward stocks and short covering

Fresh arrivals and weak exports can weight on prices in medium term as output in 2010 is at same level vs. 2009.

Spot pepper gained 110 rupees to end at 13,305 rupees per 100 kg in Kochi, a major trading hub in Kerala.

BUY PEPPER MAR ABOVE 13300 SL 13220 TGT 13345-13390-13465.NCDEX

Support for the pepper is seen at 13170 and resistance is at 13334 a break above this look till 13560 level.