Pepper continued falling Saturday on sluggish demand in the spot market and poor overseas enquiries. Spot pepper dropped 78 rupees to end at 15,047 rupees per 100 kg in Kochi. In the international market demand is lower as our parity is high. May delivery dropped Rs 159 and settled at Rs 15211/quintal. The contract touched the intra day high of Rs 15370/quintal while low of Rs 15175/quintal. Now support for the pepper is seen at 15134 and below could see a test of 15057. Resistance is now likely to be seen at 15329, a move above could see prices testing 15447.

Trading Ideas:

Pepper trading range is 15057-15447.

Pepper continued falling Saturday on sluggish demand in the spot

Support for the pepper is at 15135 and resistance is at 15330.

NCDEX accredited warehouses pepper stocks rose by 20 tonnes to 2543 tonnes.

Spot pepper prices dropped 78 rupees to end at 15,047 rupees per 100 kg

SELL PEPPER MAY @ 15350-400 SL 15480 TGT 15270-15210-15140.NCDEX