Pepper yesterday gained as per expectation in afternoon reversed gains to end down as profit-taking and low overseas demand capped gains from thin stocks and firm domestic offtake. Reports of an anticipated fall in Vietnam's output this season and expectations that Brazilian prices will increase as harvesting there ends in early December, will support prices going forward. Spot pepper rose by over 167 rupees to end at 15,571.95 rupees per 100 kg in Kochi.

December delivery dropped Rs 47 and settled at Rs 15850/quintal. The contract touched the intraday high of Rs 16140/quintal while low of Rs 15781/quintal. Now support for the pepper is seen at
15707 and below could see a test of 15565. Resistance is now likely to be seen at 16066, a move above could see prices testing 16283.

Trading Ideas:

PEPPER TRADING RANGE IS 15500-16100

PEPPER YESTERDAY ENDED DOWN AS PROFIT-TAKING AND LOW OVERSEAS DEMAND

BUY PEPPER ABV 15930 SL 15820 TGT 16000-16150-16260. NCDEX

PEPPER IS GETTING SUPPORT AT 15740 AND RESIST IS AT 16000.

SPOT PEPPER ROSE BY OVER 167 RUPEES TO END AT 15,571.95 RUPEES PER 100 KG