Pepper ended more than 1 percent higher on bargain-buying after losing 5 percent in the last two sessions. Domestic and international demand may again pick up from these levels. Spot pepper edged down 1.50 rupees to end at 15,191 rupees per 100 kg in Kochi. Pepper exports in February 2010 fell 3.22 percent to 1,500 tonnes on year. April delivery gained Rs 160 and settled at Rs 15084/quintal. The contract touched the intra day high of Rs 15227/quintal while low of Rs 14850/quintal. Now support for the pepper is seen at 14880 and below could see a test of 14677. Resistance is now likely to be seen at 15257, a move above could see prices testing 15431.

Trading Ideas:

Pepper trading range is 14677-15431.

Pepper ended yesterday ended higher on bargain-buying

Domestic and international demand may again pick up from these levels

NCDEX accredited warehouses pepper stocks rose by 58 tonnes to 2369 tonnes.

Spot pepper prices fell by 1.50 rupees to end at 15,191 rupees per 100 kg

WAIT TO HAVE A BREAKOUT ABOVE 15140 LOOK TILL 15250-15300 LEVEL.