Pepper ended down as traders opted to book profits after prices rose more than 7 percent in the last seven sessions and on weak overseas enquiries. May delivery dropped Rs 323 and settled at Rs 16038/quintal. The contract touched the intraday high of Rs 16557/quintal while low of Rs 15971/quintal. Now support for the pepper is seen at 15820 and below could see a test of 15603. Resistance is now likely to be seen at 16406, a move above could see prices testing 16775.

Trading Ideas:

Pepper trading range is 15603-16775.

Pepper ended down as traders opted to book profits

Support for the pepper is at 15920 and resistance is at 16140.

NCDEX accredited warehouses pepper stocks fell by 35 tonnes to 2584 tonnes.

Yesterday we have seen that open interest fell by 379 and volume by 1157.

SELL PEPPER MAY BELOW 16000 SL 16122 TGT 15920-15845-15760.NCDEX