Pepper July delivery gained Rs 151 and settled at Rs 16490/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 125 rupees to end at 16223 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 16495/quintal while low of Rs 16321/quintal. Now support for the pepper is seen at 16376 and below could see a test of 16261. Resistance is now likely to be seen at 16550, a move above could see prices testing 16609.

Trading Ideas:

Pepper trading range is 16245-16593.

Pepper ended positive on fresh buying supported by improved spot demand

Support for the pepper is seen at 16380 and resistance is at 16550.

NCDEX accredited warehouses pepper stocks rose 5 tonnes to 4205 tonnes.

SELL PEPPER JULY @ 16200-250 SL 16080 TGT 16320-16385-13468.NCDEX

Spot pepper gained by 125 rupees and ended at 16223 rupees per 100 kg