Pepper ended weak on a sluggish spot market and lackluster overseas demand. Spot pepper dropped 100 rupees to end at 16,141 rupees per 100 kg in Kochi. Weakness in other spices is weighing on sentiment. June delivery dropped Rs 262 and settled at Rs 16446/quintal. The contract touched the intraday high of Rs 16774/quintal while low of Rs 16429/quintal.
Now support for the pepper is seen at 16325 and below could see a test of 16205. Resistance is now likely to be seen at 16670, a move above could see prices testing 16895.
Pepper trading range is 16205-16895.
Pepper ended weak on a sluggish spot market and lackluster overseas demand
Support for the pepper is seen at 16325 and resistance is at 16570.
NCDEX accredited warehouses pepper stocks gained by 197 tonnes to 3508 tonnes.
SELL PEPPER JUNE @ 16650 SL 16725 TGT 16560-16450-16360.NCDEX
Spot pepper fell 100 rupees to end at 16141 rupees per 100 kg