Pepper hit 4% upper limit on bargain buying after falling more than 7 percent in the last 7 sessions till Tuesday. Spot pepper dropped 33 rupees to end at 15,742 rupees per 100 kg in Kochi. Pepper prices may fall because overseas demand is weak. Vietnam is very actively selling in the market. June delivery gained Rs 640 and settled at Rs 16638/quintal. The contract touched the intraday high of Rs 16638/quintal while low of Rs 15836/quintal. Now support for the pepper is seen at 16103 and below could see a test of 15569. Resistance is now likely to be seen at 16905, a move above could see prices testing 17173.

Trading Ideas:

Pepper trading range is 15569-17173.

Pepper hit 4% upper limit on bargain buying after falling previously

Support for the pepper is seen at 16480 and resistance is at 16720.

NCDEX accredited warehouses pepper stocks gained by 281 tonnes to 2946 tonnes.

Spot pepper fell 33 rupees to end at 15742 rupees per 100 kg

PEPPER JUNE LOOK FIRM CAN JUMP TILL 16800 LVL FROM THERE SELLING IS EXPECTED