Pepper yesterday remained slight weak but traders expect rates to find support at these low levels. They anticipate the export demand from US and the EU to pick up in coming weeks and that is expected to provide some support to the market sentiments. The domestic demand too is stated to have risen ahead of the festive season. Improved production prospects from Vietnam continued to pressurize prices in the Indian and International markets. March delivery dropped Rs 250 and settled at Rs 13034/quintal. The contract touched the intraday high of Rs 13341/quintal while low of Rs 13011/quintal. Now support for the pepper is seen at 12916 and below could see a test of 12799. Resistance is now likely to be seen at 13246, a move above could see prices testing 13459.

Trading Ideas:

Pepper trading range is 12799-13459.

Pepper remained slight weak expect rates looks to find support at these levels

Improved production prospects from Vietnam continued to pressurize prices

Spot pepper fell by over 60 rupees to end at 13,291.60 rupees per 100 kg

SELL PEPPER MAR BELOW 13000 SL 13122 TGT 12940-12895-12836.NCDEX