Pepper July delivery dropped Rs 130 and settled at Rs 15700/quintal on weak domestic and overseas demand. Prices are likely to continue the weak trend weakness in other spices is also weighing on sentiment. Spot pepper dropped 24 rupees to end at 15,683 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 15850/quintal while low of Rs 15480/quintal. Now support for the pepper is seen at 15503 and below could see a test of 15307. Resistance is now likely to be seen at 15873, a move above could see prices testing 16047.

Trading Ideas:

Pepper trading range is 15307-16047.

Pepper continued its weak trend Saturday on weak demand

Support for the pepper is seen at 15580 and resistance is at 15820.

NCDEX accredited warehouses pepper stocks fell 48 tonnes to 3936 tonnes.

Spot pepper fell by 24 rupees and ended at 15683 rupees per 100 kg

SELL PEPPER JULY @ 15950-16000 SL 16180 TGT 15840-15750-15670.NCDEX