Pepper pared the gains on Saturday lead by short selling on weak export demand and weak spot demand. Buyers waiting for the arrivals of the new crop in the next month. As per the latest release from the International Pepper Community, the global Pepper market was quiet and mixed during the week due to lack of overseas demand.

Spot pepper rose by over 27 rupees to end at 14543.75 rupees per 100 kg in Kochi. December delivery dropped Rs 64 and settled at Rs 14400/quintal. The contract touched the intraday high of Rs 14511/quintal while low of Rs 14382/quintal. Now support for the pepper is seen at 14351 and below could see a test of 14302. Resistance is now likely to be seen at 14480, a move above could see prices testing 14560.

Trading Ideas:

PEPPER TRADING RANGE IS 14100-14700.

PEPPER PARED THE GAINS LEAD BY SHORT SELLING ON WEAK EXPORT DEMAND

BUY PEEPER DEC ABV 14520 SL 14380 TGT 14600-14680-14745. NCDEX

PEPPER IS GETTING SUPPORT AT 14280 AND RESIST IS AT 14530.

SPOT PEPPER ROSE BY OVER 27 RUPEES TO END AT 14543.75 RUPEES PER 100 KG