Pepper ended lower on profit-booking supported by weakness in other spices. Profit-booking emerged after the rose over 14 percent in the last 9 trading sessions till Tuesday. In spot, demand is regular from local buyers. Availability is limited as farmers are hopeful of higher prices. Spot pepper gained 37 rupees to end at 14,401 rupees per 100 kg in Kochi. April delivery dropped Rs 154 and settled at Rs 14600/quintal. The contract touched the intra day high of Rs 14820/quintal while low of Rs 14525/quintal. Now support for the pepper is seen at 14477 and below could see a test of 14353. Resistance is now likely to be seen at 14772, a move above could see prices testing 14943.

Trading Ideas:

Pepper trading range is 14365-14955.

Pepper ended lower on profit-booking supported by weakness in other spices

Resistance for pepper is seen at 16690 and support is at 14510.

NCDEX accredited warehouses pepper stocks fell by 19 tonnes to 2663 tonnes.

Spot pepper prices gained 37 rupees to end at 14,401 rupees per 100 kg

SELL PEPPER APR @ 14700-740 SL 14822 TGT 14632-14570-14500-14445.NCDEX