Pepper gained on concerns unseasonal rains may hit the yield and may delay fresh arrivals while projection of lower global output also aided sentiment. On the same time prices are remaining firm in some of the competitor countries that is additionally supporting the Indian variety. Spot pepper gained 121.9 rupees to 22128.55 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 22695/quintal while low of Rs 22125/quintal. Now support for the pepper is seen at 22111 and below could see a test of 21833. Resistance is now likely to be seen at 22681, a move above could see prices testing 22973.

Trading Ideas:

Pepper trading range is 21804-22944.

Pepper gained on concerns unseasonal rains may hit the yield

Pepper looks to test support at 22250 and resistance is seen at 22520.

NCDEX accredited warehouses pepper stocks rose 10 tonnes to 2600 tonnes.

Spot pepper gained 121.9 rupees to 22128.55 rupees per 100 kg in Kochi market.