Pepper June delivery gained Rs 87 and settled at Rs 17199/quintal on local demand and slack arrivals as farmers awaited higher prices. Supply in the spot market is weak because farmers are expecting prices to touch 18,000 rupees per 100 kg.  Spot pepper gained 196 rupees to end at 16,873 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 17360/quintal while low of Rs 17080/quintal. Now support for the pepper is seen at 17066 and below could see a test of 16933. Resistance is now likely to be seen at 17346, a move above could see prices testing 17493.

Trading Ideas:

Pepper trading range is 16933-17493.

Pepper ended higher on local demand and slack arrivals

Support for the pepper is seen at 17070 and resistance is at 17260.

NCDEX accredited warehouses pepper stocks gained 197 tonnes to 3743 tonnes.

Spot pepper gained by 196 rupees and ended at 16873 rupees per 100 kg

BUY PEPPER JUNE @ 17100 SL 17000 TGT 17180-17260-17380.NCDEX