Pepper edged higher on firm domestic demand and limited supplies as traders held their produce for better prices. Spot pepper dropped 25 rupees to end at 13,132 rupees per 100 kg in Kochi. March delivery gained Rs 42 and settled at Rs 12823/quintal.

The contract touched the intraday high of Rs 12887/quintal while low of Rs 12788/quintal. Now support for the pepper is seen at 12778 and below could see a test of 12734. Resistance is now likely to be seen at 12877, a move above could see prices testing 12932.

Trading Ideas:

Pepper trading range is 12734-12932.

Pepper edged higher on firm domestic demand and limited supplies

Resistance for pepper is seen at 12880 and support is at 12740.

Yesterday we have seen that open interest fell by 228 and volume by 627 lots.

SELL PEPPER MAR @ 12880-12900 SL 12999 TGT 12830-12760-12700.NCDEX

In spot pepper prices gained by over 25 rupees to 13132 rupees per 100 kg.