Pepper ended 4 percent up as strong domestic demand and supply constraints may aid sentiment. The price of India origin MG-1 Asta grade pepper rose by $400 per tonne in the international market in the last 10 days. Spot pepper gained 207.4 rupees to end at 14,607.95 rupees per 100 kg in Kochi. April delivery gained Rs 586 and settled at Rs 15221/quintal. The contract touched the intra day high of Rs 15221/quintal while low of Rs 14550/quintal. Now support for the pepper is seen at 14774 and below could see a test of 14326. Resistance is now likely to be seen at 15445, a move above could see prices testing 15668.

Trading Ideas:

Pepper trading range is 14311-15653.

Pepper ended 4 percent up on strong domestic demand

Resistance for pepper is seen at 15110 and support is at 15440.

NCDEX accredited warehouses pepper stocks inched down by a tonne to 2662 tonnes.

Spot pepper prices gained 207 rupees to end at 14,608 rupees per 100 kg

BUY PEPPER APR @ 15200-240 SL 15132 TGT 15270-15322-15370. NCDEX