Pepper ended up on account of firm domestic demand and overseas enquiries. A firm spot supported prices. The trend is also bullish as production this year from Vietnam and India are expected to be lower. Spot pepper in Kochi, the major spot market, ended at 14,800.45 rupees per 100 kg, up 143.1 rupees. April delivery gained Rs 128 and settled at Rs 15022/quintal. The contract touched the intra day high of Rs 15186/quintal while low of Rs 14850/quintal. Now support for the pepper is seen at 14853 and below could see a test of 14683. Resistance is now likely to be seen at 15189, a move above could see prices testing 15355.

Trading Ideas:

Pepper trading range is 14683-15355.

Pepper ended up on account of firm domestic demand and overseas enquiries

Resistance for pepper is seen at 15110 and support is at 14910.

NCDEX accredited warehouses pepper stocks fell by 62 tonnes to 2394 tonnes.

Spot pepper prices gained 143.10 rupees to end at 14,800.45 rupees per 100 kg

BUY PEPPER APR ABV 15080 SL 14980 TGT 15135-15200-15265.NCDEX