Pepper July delivery gained Rs 134 and settled at Rs 17950/quintal on buying interest at lower levels, supported by lower supplies as farmers awaited higher prices. Supply position is very tight in the market. Prices are improving in the international market, supporting domestic prices. Spot pepper fell 64 rupees to end at 17,724 rupees per 100 kg in Kochi.  The contract touched the intraday high of Rs 17975/quintal while low of Rs 17580/quintal. Now support for the pepper is seen at 17695 and below could see a test of 17440. Resistance is now likely to be seen at 18090, a move above could see prices testing 18230.

Trading Ideas:

Pepper trading range is 17440-18230.

Pepper ended higher on buying interest at lower levels

Support for the pepper is seen at 17820 and resistance is at 18090.

NCDEX accredited warehouses pepper stocks rose 10 tonnes to 4082 tonnes.

BUY PEPPER JULY @ 17900-925 SL 17780 TGT 18000-18080-18170.NCDEX

Spot pepper dropped by 64 rupees and ended at 17724 rupees per 100 kg