Pepper ended over a percent lower as rising arrivals in the physical market and dull exports weighed on sentiment. Arrivals have started at Sakleshpur and Coorg centres of Karnataka. Arrivals from Vietnam have also started. Spot pepper dropped 24 rupees to end at 13,108 rupees per 100 kg in Kochi. March delivery dropped Rs 187 and settled at Rs 12642/quintal. The contract touched the intraday high of Rs 12820/quintal while low of Rs 12626/quintal. Now support for the pepper is seen at 12572 and below could see a test of 12502. Resistance is now likely to be seen at 12766, a move above could see prices testing 12890.

Trading Ideas:

Pepper trading range is 12502-12890.

Pepper ended lower as rising arrivals in the physical market and dull exports

Resistance for pepper is seen at 12760 and support is at 12570.

Yesterday we have seen that open interest fell by 289 and volume rose by 180 lots.

In spot pepper prices fell by over 24 rupees to 13108 rupees per 100 kg.

SELL PEPPER MAR @ 12700-740 SL 12822 TGT 12648-12600-12548.NCDEX