Pepper rose over 1 percent on bargain buying after falling for 3 days in a row, losing nearly 3 percent. He whole spices counter rebounded at the end on bargain buying. Pepper futures were falling from last few sessions due to lack of demand. Spot pepper dropped 63 rupees to end at 16,078 rupees per 100 kg in Kochi. June delivery gained Rs 251 and settled at Rs 16760/quintal. The contract touched the intraday high of Rs 16790/quintal while low of Rs 16361/quintal. Now support for the pepper is seen at 16484 and below could see a test of 16208. Resistance is now likely to be seen at 16913, a move above could see prices testing 17066.

Trading Ideas:

Pepper trading range is 16208-17066.

Pepper rose over 1 percent on bargain buying after falling for 3 days in a row

Support for the pepper is seen at 16460 and resistance is at 16880.

NCDEX accredited warehouses pepper stocks gained by 177 tonnes to 3685 tonnes.

BUY PEPPER JUNE @ 16730 SL 16580 TGT 16850-17000-17156.NCDEX (BTST)

Spot pepper fell 63 rupees to end at 16078 rupees per 100 kg

BUY PEPPER JUNE @ 16730 SL 16580 TGT 16850-17000-17156.NCDEX (BTST)