Pepper ended down on profit taking and fresh short position build-up. Also farmers in Vietnam are not willing to sell at current levels as they are expecting higher price. Spot pepper gained 143 rupees to end at 15,322 rupees per 100 kg in Kochi. May delivery dropped Rs 224 and settled at Rs 15573/quintal. The contract touched the intra day high of Rs 15938/quintal while low of Rs 15530/quintal. Now support for the pepper is seen at 15423 and below could see a test of 15272. Resistance is now likely to be seen at 15831, a move above could see prices testing 16088.

Trading Ideas:

Pepper trading range is 15272-16088.

Pepper ended down on profit taking and short position also build-up

Farmers in Vietnam are not willing to sell at current levels expecting higher price

Support for the pepper is at 15480 and resistance is at 15680.

Spot pepper prices gained 143 rupees to end at 15,322 rupees per 100 kg

SELL PEPPER MAY BELOW 15540 SL 15620 TGT 15480-15422-15360.NCDEX