Pepper ended steady as pressure from new arrivals was offset by bargain buying. Pepper output in 2010 is expected to be around last year's levels, but prices are unlikely to fall sharply in coming months due to low carry-over stocks. Spot pepper rose by over 70 rupees to end at 13,754.35 rupees per 100 kg in Kochi.

February delivery gained Rs 17 and settled at Rs 13650/quintal. The contract touched the intraday high of Rs 13720/quintal while low of Rs 13550/quintal. Now support for the pepper is seen at 13560 and below could see a test of 13470. Resistance is now likely to be seen at 13730, a move above could see prices testing 13810.

Trading Ideas:

Pepper trading range is 13400-13900.

Pepper ended steady as pressure from new arrivals was offset by bargain buying

Pepper output in 2010 is expected to be around last year's levels

Spot pepper rose by over 70 rupees to end at 13,754.35 rupees per 100 kg

Yesterday we have seen that open interest has fell by 48 lots and volume fell by 1753.

BUY PEPPER FEB @ 13500-15550 SL 13380 TGT 13610-13670-13740-13800.NCDEX