Pepper ended lower on weak overseas demand. Absence of overseas demand and fresh arrivals from Vietnam are weighing on the prices. At the Kochi market, pepper prices gained 25 rupees to end at 13,157 rupees 100 kg. March delivery dropped Rs 60 and settled at Rs 12783/quintal. The contract touched the intraday high of Rs 12949/quintal while low of Rs 12761/quintal.

Now support for the pepper is seen at 12713 and below could see a test of 12643. Resistance is now likely to be seen at 12901, a move above could see prices testing 13019.

Trading Ideas:

Pepper trading range is 12643-13019.

Pepper ended lower on weak overseas demand and fresh arrivals from Vietnam

Resistance for pepper is seen at 12910 and support is at 12710.

Yesterday we have seen that open interest fell by 200 and volume by 85 lots.

In spot pepper prices gained by over 25 rupees to 13157 rupees per 100 kg.

SELL PEPPER MAR @ 12880-920 SL 13000 TGT 12820-12760-12680.NCDEX