Pepper erased early gains to end nearly 1 percent lower on profit-booking but likely to trade steady as local demand and limited supply may support prices. Spot pepper jumped 461.5 rupees to end at 14,444.5 rupees per 100 kg in Kochi. April delivery dropped Rs 122 and settled at Rs 14380/quintal. The contract touched the intraday high of Rs 14865/quintal while low of Rs 14180/quintal. Now support for the pepper is seen at 14085 and below could see a test of 13790. Resistance is now likely to be seen at 14770, a move above could see prices testing 15160.

Trading Ideas:

Pepper trading range is 13790-15160.

Pepper erased early gains to end nearly 1% lower on profit-booking

Resistance for pepper is seen at 14490 and support is at 14260.

NCDEX accredited warehouses pepper stocks fell by 15 tonnes to 2717 tonnes.

Spot pepper prices jumped 461.5 rupees to end at 14,444.5 rupees per 100 kg

BUY PEPPER APR @ 14400-430 SL 14320 TGT 14490-14560-14620.NCDEX