Pepper ended higher Saturday on short covering after prices fell in previous session. Improved demand from stockists, squeezed supply and low stocks also supported the pepper prices. . Supply is very limited in the physical market. Spot pepper fell 95 rupees to end at 16,095 rupees per 100 kg in Kochi, a major trading hub in Kerala. June delivery gained Rs 271 and settled at Rs 16630/quintal. The contract touched the intraday high of Rs 16720/quintal while low of Rs 16402/quintal. Now support for the pepper is seen at 16448 and below could see a test of 16266. Resistance is now likely to be seen at 16766, a move above could see prices testing 16902.

Trading Ideas:

Pepper trading range is 16266-16902.

Pepper ended higher Saturday on short covering Saturday

Support for the pepper is seen at 16510 and resistance is at 16740.

NCDEX accredited warehouses pepper stocks rose by 20 tonnes to 2587 tonnes.

SELL PEPPER JUNE ON JUMP @ 16850 SL 16940 TGT 16780-16650-16580.NCDEX

Spot pepper fell 172 rupees to end at 16,095 rupees per 100 kg