Pepper July delivery gained Rs 141 and settled at Rs 18040/quintal boosted by export demand amid limited domestic supplies. Pepper prices will stabilize with positive bias. Pepper exports fell 22 percent to 19,750 tonnes in April-March period, but traders say shipments have been picking up. Spot pepper gained168 rupees to end at 17,892 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 18138/quintal while low of Rs 17852/quintal. Now support for the pepper is seen at 17882 and below could see a test of 17724. Resistance is now likely to be seen at 18168, a move above could see prices testing 18296.

Trading Ideas:

Pepper trading range is 17724-18296.

Pepper ended higher boosted by export demand amid limited domestic supplies

Support for the pepper is seen at 17880 and resistance is at 18170.

Yesterday we have seen that open interest rose by 86 and volume fell by 1736

SELL PEPPER JULY BELOW 18000 SL 18180 TGT 17920-17840-17750.NCDEX

Spot pepper gained by 168 rupees and ended at 17892 rupees per 100 kg