Pepper August delivery dropped Rs 4 and settled at Rs 20655/quintal retreated from fresh contract highs hit earlier in the day as profit-booking emerged after rising more than 8 percent in seven sessions. Spot pepper fell 82 rupees to 20,259 rupees per 100 kg in Kochi, a major trading hub in Kerala. The contract touched the intraday high of Rs 20814/quintal while low of Rs 20311/quintal. Now support for the pepper is seen at 20373 and below could see a test of 20090. Resistance is now likely to be seen at 20876, a move above could see prices testing 21096.

Trading Ideas:

Pepper trading range is 20090-21096.

Pepper retreated from fresh contract highs hit earlier as profit-booking emerged

Support for the pepper is seen at 20520 and resistance is at 20870.

NCDEX accredited warehouses pepper stocks rose by 50 tonnes to 4223 tonnes.

In spot pepper prices fell by 82 rupees to at 20259 rupees per 100 kg