Pepper ended up on bargain-buying on account of firm domestic demand and overseas enquiries. Overall sentiments are bullish. Production in Vietnam and India are expected to be lower this year.  Spot pepper dropped 113 rupees to end at 14,657 rupees per 100 kg in Kochi. April delivery gained Rs 258 and settled at Rs 14865/quintal. The contract touched the intra day high of Rs 15040/quintal while low of Rs 14430/quintal. Now support for the pepper is seen at 14517 and below could see a test of 14168. Resistance is now likely to be seen at 15127, a move above could see prices testing 15388.

Trading Ideas:

Pepper trading range is 14168-15388.

Pepper ended up on bargain-buying on account of firm domestic demand

Resistance for pepper is seen at 14980 and support is at 14760.

NCDEX accredited warehouses pepper stocks rose by 26 tonnes to 2456 tonnes.

Spot pepper prices dropped 113 rupees to end at 14,657 rupees per 100 kg

BUY PEPPER APR @ 14700-760 SL 14620 TGT 14840-14950-15080.NCDEX