Pepper ended weak as new arrivals weigh on sentiment. Fresh arrivals, sluggish domestic enquiries and weak exports are dragging pepper prices down. 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. March delivery dropped Rs 185 and settled at Rs 12671/quintal. The contract touched the intraday high of Rs 12920/quintal while low of Rs 12671/quintal. Now support for the pepper is seen at 12588 and below could see a test of 12505. Resistance is now likely to be seen at 12837, a move above could see prices testing 13003.

Trading Ideas:

Pepper trading range is 12505-13003.

Pepper ended weak as new arrivals weighed on sentiment

Resistance for pepper is seen at 12760 and support is at 12590.

India's pepper output in 2010 is expected around last year's levels

SELL PEPPER MAR @ 12760-12800 SL 12910 TGT 12710-12640-12580.NCDEX

NCDEX accredited warehouses pepper stocks fell by 106 tonnes at 3386 tonnes.