Pepper ended higher on improved demand from stockists, squeezed supply and low stocks. Spot pepper gained 104.50 rupees to end at 16,617 rupees per 100 kg in Kochi. Supply is very limited in the physical market. June delivery gained Rs 177 and settled at Rs 17280/quintal. The contract touched the intra day high of Rs 17570/quintal while low of Rs 16975/quintal. Now support for the pepper is seen at 16980 and below could see a test of 16680. Resistance is now likely to be seen at 17575, a move above could see prices testing 17870.

Trading Ideas:

Pepper trading range is 16680-17870.

Pepper ended higher on improved demand from stockists and squeezed supply

Support for the pepper is seen at 17160 and resistance is at 17420.

NCDEX accredited warehouses pepper stocks rose by 90 tonnes to 2854 tonnes.

BUY PEPPER JUNE @ 17000-17080 SL 16920 TGT 17156-17240-17360.NCDEX

Spot pepper gained 104.50 rupees to end at 16,617 rupees per 100 kg