Pepper August delivery gained Rs 507 and settled at Rs 20690/quintal tracking firm international markets, robust domestic demand amidst lower supplies. Prices in the international market are holding firm. Globally, stocks are estimated to be lower. Spot pepper climbed 776 rupees to end at 20,341 rupees per 100 kg in Kochi. The contract touched the intraday high of Rs 20775/quintal while low of Rs 20250/quintal. Now support for the pepper is seen at 20368 and below could see a test of 20047. Resistance is now likely to be seen at 20893, a move above could see prices testing 21097.

Trading Ideas:

Pepper trading range is 20047-21097.

Pepper ended higher tracking firm international markets and robust domestic demand

Support for the pepper is seen at 20540 and resistance is at 20840.

NCDEX accredited warehouses pepper stocks rose by 360 tonnes to 4173 tonnes.

In spot pepper prices rose by 776 rupees to be at 20341 rupees per 100 kg