Pepper ended more than 2 percent higher tracking firm cues from the spot market. Firmness in other spices and local demand is supporting rise in pepper prices. Spot pepper jumped 103 rupees to end at 13,199 rupees per 100 kg in Kochi. April delivery gained Rs 288 and settled at Rs 13220/quintal. The contract touched the intraday high of Rs 13264/quintal while low of Rs 12900/quintal. Now support for the pepper is seen at 12992 and below could see a test of 12764. Resistance is now likely to be seen at 13356, a move above could see prices testing 13492.

Trading Ideas:

Pepper trading range is 12764-13492.

Pepper ended higher tracking firm cues from the spot market

Resistance for pepper is seen at 13356 and support is at 13080.

Yesterday we have seen that open interest at 2653 and volume at 1721 lots.

Spot pepper prices jumped 103 rupees to end at 13,199 rupees per 100 kg

SELL PEPPER APR BELOW 13100 SL 13190 TGT 13020-12940-12865.NCDEX