Pepper fell on poor overseas demand. Prices are not attractive for importers; it has to come down further. Indian pepper exports in January stood at 1,500 tonnes, down 28.57 percent on year. Spot pepper prices fell by 94 rupees to end at 15,430 rupees per 100 kg in Kochi. April delivery dropped Rs 408 and settled at Rs 15302/quintal. The contract touched the intra day high of Rs 15769/quintal while low of Rs 15265/quintal.

Now support for the pepper is seen at 15122 and below could see a test of 14941. Resistance is now likely to be seen at 15626, a move above could see prices testing 15949.

Trading Ideas:

Pepper trading range is 14941-15949.

Pepper yesterday fell on poor overseas demand

Resistance for pepper is seen at 15440 and support is at 15200.

NCDEX accredited warehouses pepper stocks fell by 50 tonnes to 2291 tonnes.

Spot pepper prices fell by 94 rupees to end at 15,430 rupees per 100 kg

SELL PEPPER APR ON JUMP @ 15450-480 SL 15560 TGT 15380-15322-15260.NCDEX