Pepper ended higher on firm domestic demand and weak arrivals in the physical market as farmers held on to their produce for better prices. Market is moving up on technical buying. Demand is gaining pace in the domestic market, supporting prices. Spot pepper dipped 80.5 rupees to end at 14,364 rupees per 100 kg in Kochi after rising more than 7 percent in the last 6 sessions. April delivery gained Rs 407 and settled at Rs 14775/quintal. The contract touched the intraday high of Rs 14800/quintal while low of Rs 14333/quintal. Now support for the pepper is seen at 14472 and below could see a test of 14169. Resistance is now likely to be seen at 14939, a move above could see prices testing 15103.

Trading Ideas:

Pepper trading range is 14162-15096.

Pepper ended higher on firm domestic demand and weak arrivals in the physical market

Resistance for pepper is seen at 14880 and support is at 14650.

NCDEX accredited warehouses pepper stocks fell by 35 tonnes to 2682 tonnes.

Spot pepper prices fell by 80.50 rupees to end at 14,364 rupees per 100 kg

SELL PEPPER APR @ 14750-800 SL 14922 TGT 14600-14550-14470.NCDEX