Pepper ended higher on bargain-buying after losing nearly 4 percent in the last 2 sessions and on limited supply as farmers await higher prices. Overseas demand however, is still not picking up because Indian origin pepper is at premium in the international market. Spot pepper gained 149 rupees to end at 15,701 rupees per 100 kg in Kochi. May delivery gained Rs 433 and settled at Rs 16200/quintal. The contract touched the intraday high of Rs 16200/quintal while low of Rs 15680/quintal. Now support for the pepper is seen at 15853 and below could see a test of 15507. Resistance is now likely to be seen at 16373, a move above could see prices testing 16547.

Trading Ideas:

Pepper trading range is 15466-16506.

Pepper ended higher on bargain-buying after losing nearly 4% previously

Support for the pepper is seen at 16080 and resistance is at 16320

NCDEX accredited warehouses pepper stocks rose by 160 tonnes to 2744 tonnes.

Spot pepper fell by 149 rupees to end at 15,701 rupees per 100 kg

BUY PEPPER MAY @ 16050-16100 SL 15980 TGT 16180-16240-16340.NCDEX