Pepper August delivery gained Rs 527 and settled at Rs 19568/quintal on encouraging export demand amid a supply shortage. Supply position is very tight in the market. Farmers are not bringing their produce as they are anticipating further rise in prices. Spot pepper gained 126 rupees to end at 18,722 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 19595/quintal while low of Rs 18905/quintal. Now support for the pepper is seen at 19117 and below could see a test of 18666. Resistance is now likely to be seen at 19807, a move above could see prices testing 20046.

Trading Ideas:

Pepper trading range is 18666-20046.

Pepper ended positive on encouraging export demand amid supply shortage

Support for the pepper is seen at 19410 and resistance is at 19810.

NCDEX accredited warehouses pepper stocks remained steady 4140 tonnes.

PEPPER CORRECTION IS DUE ON A BREAK BELOW 19200 TILL 18650 LEVEL.

In spot pepper prices rose by 126 rupees to be at 18,722 rupees per 100 kg