Pepper December delivery gained Rs 226 and settled at Rs 21811/quintal on estimates of lower global output and diminishing stocks with major producing countries, but tepid overseas demand weighed. A likely delay in fresh arrivals due to the unseasonal rains is likely to support buying. Spot pepper gained 35.3 rupees to 21600 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21825/quintal while low of Rs 21550/quintal. Now support for the pepper is seen at 21632 and below could see a test of 21454. Resistance is now likely to be seen at 21907, a move above could see prices testing 22004.

Trading Ideas:

Pepper trading range is 21447-21997.

Pepper ended positive on estimates of lower global output

Pepper looks to test support at 21630 and resistance is seen at 21910.

NCDEX accredited warehouses pepper stocks rose 32 tonnes to 1317 tonnes.

Spot pepper gained 35.3 rupees to 21600 rupees per 100 kg in Kochi market.