Pepper erased early losses to end higher on firmness in the spot market and limited supply, but sluggish overseas demand weighed. India origin black pepper is trading higher in the international market.pot pepper gained 457 rupees to 16,200 rupees per 100 kg in Kochi. June delivery gained Rs 207 and settled at Rs 16831/quintal. The contract touched the intraday high of Rs 17030/quintal while low of Rs 16532/quintal. Now support for the pepper is seen at 16565 and below could see a test of 16300. Resistance is now likely to be seen at 17063, a move above could see prices testing 17296.

Trading Ideas:

Pepper trading range is 16300-17296.

Pepper ended higher on firmness in the spot market and limited supply

Support for the pepper is seen at 16720 and resistance is at 16960.

NCDEX accredited warehouses pepper stocks gained by 159 tonnes to 3105 tonnes.

BUY PEPPER JUNE ABV 16880 SL 16750 TGT 16960-17050-17180.NCDEX

Spot pepper jumped 457 rupees to end at 16200 rupees per 100 kg