Pepper July delivery gained Rs 107 and settled at Rs 17951/quintal bolstered by robust domestic demand and lower supplies as famers awaited higher prices. Prices are once again hardening in the international market. Concerns over limited supply in the market are pushing the prices up. Spot pepper climbed 602 rupees to end at 17,808 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 18217/quintal while low of Rs 17630/quintal. Now support for the pepper is seen at 17648 and below could see a test of 17346. Resistance is now likely to be seen at 18235, a move above could see prices testing 18520.

Trading Ideas:

Pepper trading range is 17346-18520.

Pepper continued its trend bolstered by robust domestic demand and lower supplies

Prices are once again hardening in the international market.

Support for the pepper is seen at 17720 and resistance is at 18100.

SELL PEPPER JULY BELOW 17880 SL 18000 TGT 17780-17700-17580.NCDEX

Spot pepper gained by 602 rupees and ended at 17808 rupees per 100 kg