Pepper ended steady on limited supply in the market as farmers waited for better prices and some local demand but weakness in overseas enquiries restricted the upside. Local demand is good but overseas demand is sluggish as Indian origin pepper is quoted higher in the international market. Spot pepper gained 38 rupees to end at 15,195 rupees per 100 kg in Kochi, a major trading hub in Kerala. May delivery gained Rs 38 and settled at Rs 15450/quintal. The contract touched the intraday high of Rs 15518/quintal while low of Rs 15325/quintal. Now support for the pepper is seen at 15344 and below could see a test of 15238. Resistance is now likely to be seen at 15537, a move above could see prices testing 15624.

Trading Ideas:

Pepper trading range is 15238-15624.

Pepper ended steady on limited supply in the market

Support for the pepper is at 15345 and resistance is at 15540.

NCDEX accredited warehouses pepper stocks remained steady at 2593 tonnes.

PEPPER IS LIKELY TO TRADE IN THE RANGE OF 15340-15480.

Spot pepper prices gained 38 rupees to end at 15,195 rupees per 100 kg