Pepper July delivery gained Rs 110 and settled at Rs 16269/quintal on fresh buying supported by improved spot demand, weak arrivals and lower stocks. Global supply situation is tight. Trend is firm as demand is good. Spot pepper gained 105.5 rupees to end at 15,974 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 16290/quintal while low of Rs 16075/quintal. Now support for the pepper is seen at 16133 and below could see a test of 15996. Resistance is now likely to be seen at 16348, a move above could see prices testing 16426.

Trading Ideas:

Pepper trading range is 15996-16426.

Pepper ended positive on fresh buying supported by improved spot demand

Support for the pepper is seen at 16130 and resistance is at 16350.

Yesterday we have seen that open interest rose by 627 and volume by 2891

BUY PEPPER JULY @ 16100 SL 15980 TGT 16180-16250-16340.NCDEX

Spot pepper rose by 105.50 rupees and ended at 15974 rupees per 100 kg