Commodity Outlook for Pepper by KediaCommodity

PepperPepper July delivery gained Rs 209 and settled at Rs 16810/quintal on value-buying after losing nearly 5 percent in five sessions till Saturday and limited supplies. World pepper output is expected to be lower. Carry forward stocks are also poor. Spot pepper dropped 227 rupees to end at 16,397 rupees per 100 kg in Kochi. The contract touched the intra day high of Rs 16950/quintal while low of Rs 16500/quintal. Now support for the pepper is seen at 16557 and below could see a test of 16303. Resistance is now likely to be seen at 17007, a move above could see prices testing 17203.

Trading Ideas:

Pepper trading range is 16303-17203.

Pepper gained on value-buying after losing nearly % till Saturday

Support for the pepper is seen at 16680 and resistance is at 16940.

World pepper output is expected to be lower.

Spot pepper dropped by 227 rupees and ended at 16397 rupees per 100 kg

BUY PEPPER JULY @ 16700 SL 16600 TGT 16780-16840-16920.NCDEX