Pepper July delivery gained Rs 75 and settled at Rs 17000/quintal supported by firm local demand and dwindling supplies in the spot market. Market looks good because the availability of the spice is very limited. Demand in the spot market is encouraging. Spot pepper gained 212 rupees to 16,831 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 17119/quintal while low of Rs 16750/quintal. Now support for the pepper is seen at 16794 and below could see a test of 16587. Resistance is now likely to be seen at 17163, a move above could see prices testing 17325.

Trading Ideas:

Pepper trading range is 16587-17325.

Pepper ended higher supported by firm local demand and dwindling supplies

Support for the pepper is seen at 16880 and resistance is at 17160.

NCDEX accredited warehouses pepper stocks gained 12 tonnes to 4115 tonnes.

SELL PEPPER JULY BELOW 16940 SL 17060 TGT 16860-16790-16720. NCDEX

Spot pepper gained by 212 rupees and ended at 16831 rupees per 100 kg