Pepper ended down on the back of sluggish domestic demand, rising arrivals and weak exports. People are waiting for a further dip in prices to go for fresh buying. Pepper exports fell 28.57 percent to 1500 tonnes in January from 2100 tonnes in the year-ago period. Spot pepper ended at 13106.75 rupees per 100 kg in Kochi.  March delivery dropped Rs 78 and settled at Rs 12856/quintal. The contract touched the intraday high of Rs 12969/quintal while low of Rs 12810/quintal. Now support for the pepper is seen at 12788 and below could see a test of 12719. Resistance is now likely to be seen at 12947, a move above could see prices testing 13037.

Trading Ideas:

Pepper trading range is 12719-13037.

Pepper ended down on the back of sluggish domestic demand

Resistance for pepper is seen at 12948 and support is at 12790.

NCDEX accredited warehouses pepper stocks fell by 513 tonnes at 3492 tonnes.

SELL PEPPER MAR @ 12900 SL 13020 TGT 12855-12790-12720.NCDEX

Spot pepper fell by over 36 rupees to end at 13,012 rupees per 100 kg