Pepper July delivery dropped Rs 96 and settled at Rs 15879/quintal as weakness in the overseas demand offset poor supplies. "Overseas demand is still weak. Though we have lowered our prices in the international market in the last few days, fresh orders have not started coming in as few countries are still quoting lower then us. Spot pepper gained 275 rupees to end at 15,853 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 16197/quintal while low of Rs 15810/quintal. Now support for the pepper is seen at 15727 and below could see a test of 15575. Resistance is now likely to be seen at 16114, a move above could see prices testing 16349.

Trading Ideas:

Pepper trading range is 15576-16350.

Pepper ended weak as weakness in overseas demand offset poor supplies

Support for the pepper is seen at 15730 and resistance is at 16000.

NCDEX accredited warehouses pepper stocks rose 270 tonnes to 3847 tonnes.

SELL PEPPER JULY BELOW 15800 SL 15940 TGT 15720-15640-15560. NCDEX

Spot pepper gained by 275 rupees and ended at 15853 rupees per 100 kg