Pepper October delivery gained Rs 29 and settled at Rs 20855/quintal as pressure from subdued export shipments was offset by support from limited availability of stocks. Stocks are in limited quantity and new arrivals would start only by December. Overseas demand is subdued, which may hurt prices at every rise and may prompt fresh selling. Spot pepper dropped -29.6 rupees to 20488.65 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21025/quintal while low of Rs 20650/quintal. Now support for the pepper is seen at 20662 and below could see a test of 20468. Resistance is now likely to be seen at 21037, a move above could see prices testing 21218.

Trading Ideas:

Pepper trading range is 20468-21218.

Pepper ended steady getting support from limited availability of stocks

Support for the pepper is seen at 20660 and resistance is at 21000.

Stocks are in limited quantity and new arrivals would start only by December

Spot pepper dropped -29.6 rupees to 20488.65 rupees per 100 kg in Kochi market.