Pepper August delivery dropped Rs 104 and settled at Rs 19433/quintal as profit-booking emerged after prices rose nearly 10 percent in six trading sessions. Prices have risen significantly in the past week. Spot pepper jumped 439 rupees to end at 19,161 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 19760/quintal while low of Rs 19291/quintal. Now support for the pepper is seen at 19229 and below could see a test of 19026. Resistance is now likely to be seen at 19698, a move above could see prices testing 19964.

Trading Ideas:

Pepper trading range is 19007-19945.

Pepper ended lower as profit-booking emerged after prices rose nearly 10 percent

Support for the pepper is seen at 1920 and resistance is at 19560.

NCDEX accredited warehouses pepper stocks rose by 3 tonnes to 4143 tonnes.

In spot pepper prices rose by 439 rupees to be at 19161 rupees per 100 kg