Pepper ended weak on sluggish overseas demand. Overseas demand is still weak. The price gap between Indian and Vietnam origin pepper is getting wider in the international market and this is distracting overseas buyers. Spot pepper gained 147 rupees to end at 15,157 rupees per 100 kg in Kochi. May delivery dropped Rs 75 and settled at Rs 15390/quintal. The contract touched the intraday high of Rs 15640/quintal while low of Rs 15360/quintal. Now support for the pepper is seen at 15287 and below could see a test of 15183. Resistance is now likely to be seen at 15567, a move above could see prices testing 15743.

Trading Ideas:

Pepper trading range is 15183-15743.

Pepper ended weak on sluggish overseas demand

Support for the pepper is at 15290 and resistance is at 15470.

NCDEX accredited warehouses pepper stocks remained steady at 2593 tonnes.

BUY PEPPER MAY ABV 15460 SL 15380 TGT 15522-15600-15640.NCDEX

Spot pepper prices gained 147 rupees to end at 15,157 rupees per 100 kg