Pepper struck fresh contract lows before settling almost steady on buying interest at low levels. Spot pepper dropped 134 rupees to end at 12,969 rupees per 100 kg in Kochi. People are waiting for a further dip in prices to go for fresh buying. March delivery dropped Rs 23 and settled at Rs 12610/quintal. The contract touched the intraday high of Rs 12695/quintal while low of Rs 12447/quintal. Now support for the pepper is seen at 12473 and below could see a test of 12336. Resistance is now likely to be seen at 12721, a move above could see prices testing 12832.

Trading Ideas:

Pepper trading range is 12336-12832.

Pepper struck fresh contract lows and settled almost steady on buying interest at low levels

Support for the pepper is at 12540 and resistance is at 12720.

Spot pepper dropped 134 rupees to end at 12,969 rupees per 100 kg

SELL PEPPER MAR @ 12750-780 SL 12856 TGT 12702-12665-12610-12560.NCDEX

NCDEX accredited warehouses pepper stocks remained steady at 4125 tonnes.