Pepper ended higher tracking firmness in the spot market where local demand was good, enquiries from overseas market and limited supply. After Indonesia, Vietnam raised its price. So it's good news for India. When the difference between the Indian and other destination prices remain lower that means the demand outlook for Indian pepper is good. Spot pepper jumped 328 rupees to end at 14,315 rupees per 100 kg in Kochi. April delivery gained Rs 88 and settled at Rs 15711/quintal. The contract touched the intra day high of Rs 15998/quintal while low of Rs 15576/quintal. Now support for the pepper is seen at 15525 and below could see a test of 15340. Resistance is now likely to be seen at 15947, a move above could see prices testing 16184.

Trading Ideas:

Pepper trading range is 15340-16184.

Pepper ended higher tracking firmness in the spot market

Resistance for pepper is seen at 15820 and support is at 15580.

NCDEX accredited warehouses pepper stocks fell by 58 tonnes to 2341 tonnes.

Spot pepper prices jumped 328 rupees to end at 14,315 rupees per 100 kg

BUY PEPPER APR ABV 15760 SL 15680 TGT 15841-15900-15960.NCDEX