Pepper ended lower on weak demand in the spot market and poor overseas demand. Farmers in India and Vietnam are not releasing stocks in anticipation of further rise in the prices. Spot pepper dropped 41 rupees to end at 15,226 rupees per 100 kg in Kochi. May delivery dropped Rs 248 and settled at Rs 15501/quintal. The contract touched the intra day high of Rs 15725/quintal while low of Rs 15472/quintal. Now support for the pepper is seen at 15407 and below could see a test of 15313. Resistance is now likely to be seen at 15660, a move above could see prices testing 15819.

Trading Ideas:

Pepper trading range is 15320-15826.

Pepper ended lower on weak demand in the spot market

Support for the pepper is at 15410 and resistance is at 15660.

NCDEX accredited warehouses pepper stocks rose by 54 tonnes to 2433 tonnes.

Spot pepper prices fell 41 rupees to end at 15,226 rupees per 100 kg

BUY PEPPER MAY ABV 15560 SL 15480 TGT 15640-15700-15780.NCDEX