Pepper July delivery dropped Rs 218 and settled at Rs 15852/quintal on poor domestic and overseas demand. Weak cues from international market are also weighing on sentiment.  Spot pepper dropped 465 rupees to 15,832 rupees per 100 kg in Kochi, a major trading hub in Kerala. The contract touched the intraday high of Rs 16190/quintal while low of Rs 15576/quintal. Now support for the pepper is seen at 15555 and below could see a test of 15259. Resistance is now likely to be seen at 16169, a move above could see prices testing 16487.

Trading Ideas:

Pepper trading range is 15259-16487.

Pepper fell yesterday on poor domestic and overseas demand

Support for the pepper is seen at 15720 and resistance is at 15980.

NCDEX accredited warehouses pepper stocks rose 40 tonnes to 3839 tonnes.

SELL PEPPER JULY @ 16100 SL 16220 TGT 15980-15860-15750.NCDEX

Spot pepper fell by 465 rupees and ended at 15832 rupees per 100 kg