Pepper July delivery gained Rs 48 and settled at Rs 15930/quintal on value-buying after losing 9 percent in the last 10 sessions till Tuesday, and on squeezed supplies in the spot. Spot pepper dropped 50 rupees to end at 15,803 rupees per 100 kg in Kochi, a major trading hub in Kerala. Now we can expect some overseas orders if prices remains at these levels. The contract touched the intraday high of Rs 16024/quintal while low of Rs 15770/quintal. Now support for the pepper is seen at 15792 and below could see a test of 15654. Resistance is now likely to be seen at 16046, a move above could see prices testing 16162.

Trading Ideas:

Pepper trading range is 15654-16162.

Pepper ended positive on value-buying and on squeezed supplies in spot

Support for the pepper is seen at 15800 and resistance is at 16050.

NCDEX accredited warehouses pepper stocks rose 30 tonnes to 3877 tonnes.

Spot pepper fell by 50 rupees and ended at 15803 rupees per 100 kg