Pepper erased early losses to end higher tracking marginal recovery in the domestic enquiries. Vietnam is not willing to sell at the current lower levels. This is supporting the trading sentiment. At the Kochi market, pepper prices gained 36 rupees to end at 13,132 rupees 100 kg. March delivery gained Rs 57 and settled at Rs 12841/quintal. The contract touched the intraday high of Rs 12888/quintal while low of Rs 12731/quintal. Now support for the pepper is seen at 12752 and below could see a test of 12663. Resistance is now likely to be seen at 12909, a move above could see prices testing 12977.

Trading Ideas:

Pepper trading range is 12663-12977.

Pepper to end higher tracking marginal recovery in the domestic enquiries

Resistance for pepper is seen at 12910 and support is at 12750.

Yesterday we have seen that open interest at 5735 and volume at 2042 lots.

In spot pepper prices gained by over 36 rupees to 13132 rupees per 100 kg.

BUY PEPPER MAR @ 12800 SL 12720 TGT 12860-12922-12980.NCDEX