Pepper reversed gains to end lower as weak demand and mounting new crop arrivals are expected to hurt sentiment. Indian pepper exports in January stood at 1,500 tonnes, down 28.57 percent on year, the Spices Board said. Spot pepper gained 79 rupees to end at 13,048 rupees per 100 kg in Kochi. March delivery dropped Rs 209 and settled at Rs 12772/quintal. The contract touched the intraday high of Rs 13139/quintal while low of Rs 12771/quintal. Now support for the pepper is seen at 12649 and below could see a test of 12526. Resistance is now likely to be seen at 13017, a move above could see prices testing 13262.

Trading Ideas:

Pepper trading range is 12526-13262.

Pepper reversed gains to end lower due to weak demand and mounting new crop arrivals

Resistance for pepper is seen at 12640 and support is at 12890.

NCDEX accredited warehouses pepper stocks fell by 162 tonnes to 3137 tonnes.

BUY PEPPER MAR ABV 12840 SL 12760 TGT 12910-12980-13065.NCDEX

In spot pepper prices rose by over 119 rupees to 13210.45 rupees per 100 kg.