Commodity Outlook for Pepper by KediaCommodity

PepperPepper October delivery dropped Rs 391 and settled at Rs 19100/quintal as lacklustre overseas demand weighed on sentiment. Lower supplies may support buying at lower levels but prices will not sustain at higher levels in absence of overseas demand. Spot pepper dropped -254.05 rupees to 19464.7 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 19534/quintal while low of Rs 18976/quintal. Now support for the pepper is seen at 18873 and below could see a test of 18645. Resistance is now likely to be seen at 19431, a move above could see prices testing 19761.

Trading Ideas:

Pepper trading range is 18645-19761.

Pepper ended lower as lacklustre overseas demand weighed on sentiment

Support for the pepper is seen at 18870 and resistance is at 19280.

Yesterday we have seen open interest fell by 149 and volume rose by 1887 lots

Spot pepper dropped -254.05 rupees to 19464.7 rupees per 100 kg in Kochi market.