Pepper ended higher on a supply squeeze as well as local demand, a trend which may continue for another session. Farmers don't want to sell at these levels they want better prices as they are holding stocks, supply situation is tight. Spot pepper was up 428 rupees at 15,844 rupees per 100 kg in Kochi. May delivery gained Rs 499 and settled at Rs 16365/quintal. The contract touched the intraday high of Rs 16494/quintal while low of Rs 15855/quintal. Now support for the pepper is seen at 15982 and below could see a test of 15599. Resistance is now likely to be seen at 16621, a move above could see prices testing 16877.

Trading Ideas:
Pepper trading range is 15599-16877.

Pepper ended higher on a supply squeeze as well as local demand

Support for the pepper is at 16440 and resistance is at 16260.

NCDEX accredited warehouses pepper stocks rose by 1937 tonnes to 2619 tonnes.

PEPPER IS IN OVERBOT STILL LOOK TO TEST 16500 LEVEL WAIT FOR FRESH ENTRY

Spot pepper prices gained 428 rupees to end at 15844 rupees per 100 kg