Pepper November delivery gained Rs 47 and settled at Rs 20415/quintal on a pick-up in domestic buying to meet winter demand amid lower supplies and dwindling stocks. Domestic demand in pepper usually improves in the winter season. Stocks are negligible with most of the key producing countries. Spot pepper gained 233.25 rupees to 20115.6 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 20575/quintal while low of Rs 20212/quintal. Now support for the pepper is seen at 20226 and below could see a test of 20038. Resistance is now likely to be seen at 20589, a move above could see prices testing 20764.

Trading Ideas:

Pepper trading range is 20038-20764.

Pepper ended positive on a pick-up in domestic buying to meet winter demand

Pepper looks to test support at 20226 and resistance is seen at 20589.

NCDEX accredited warehouses pepper stocks fell 132 tonnes to 3163 tonnes.

Spot pepper gained 233.25 rupees to 20115.6 rupees per 100 kg in Kochi market.