Pepper ended weak as traders choose to book profits after prices rose nearly 10 percent in the last 9 sessions. Prices may get support only if export demand picks up. Export demand is the major trigger in pepper market. Spot pepper edged up 11.5 rupees to end at 16,512.50 rupees per 100 kg in Kochi. June delivery dropped Rs 155 and settled at Rs 17116/quintal. The contract touched the intraday high of Rs 17479/quintal while low of Rs 16986/quintal. Now support for the pepper is seen at 16908 and below could see a test of 16701. Resistance is now likely to be seen at 17401, a move above could see prices testing 17687.

Trading Ideas:

Pepper trading range is 16701-17687.

Pepper ended weak as traders choose to book profits

Support for the pepper is seen at 17080 and resistance is at 17230.

NCDEX accredited warehouses pepper stocks rose by 92 tonnes to 2764 tonnes.

Spot pepper gained by 11 rupees to end at 16,512 rupees per 100 kg

SELL PEPPER JUNE BELOW 17100 SL 17180 TGT 17040-16960-16870.NCDEX