Pepper June delivery dropped Rs 129 and settled at Rs 17126/quintal on profit-booking triggered after the benchmark contract rose 4 percent in as many sessions. There is no strength in overseas demand. Spot pepper gained 112 rupees to end at 16,733 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 17380/quintal while low of Rs 17110/quintal. Now support for the pepper is seen at 17031 and below could see a test of 16935. Resistance is now likely to be seen at 17301, a move above could see prices testing 17475.

Trading Ideas:

Pepper trading range is 16944-17484.

Pepper yesterday ended on profit booking by traders

Support for the pepper is seen at 17030 and resistance is at 17300.

Yesterday we have seen that open interest fell by 53 and volume rose by 313

Spot pepper rose by 112 rupees and ended at 16733 rupees per 100 kg

SELL PEPPER JUNE BELOW 17040 SL 17180 TGT 16940-16860-16780.NCDEX