Pepper ended higher on improved demand from stockists and limited supply in the market as famers awaited higher prices. Spot pepper gained 376 rupees to end at 16,501 rupees per 100 kg in Kochi. JUNE delivery gained Rs 218 and settled at Rs 17235/quintal. The contract touched the intraday high of Rs 17566/quintal while low of Rs 16850/quintal. Now support for the pepper is seen at 16868 and below could see a test of 16501. Resistance is now likely to be seen at 17584, a move above could see prices testing 17933.

Trading Ideas:

Pepper trading range is 16501-17933.

Pepper ended higher on improved demand from stockists and limited supply

Support for the pepper is seen at 17110 and resistance is at 17360.

Yesterday we have seen that open interest rose by 2413 and volume by 6257

BUY PEPPER JUNE @ 17050-17100 SL 16970 TGT 17160-17240-17358.NCDEX

Spot pepper gained by 376 rupees to end at 16,501 rupees per 100 kg