Pepper September delivery gained Rs 444 and settled at Rs 21280/quintal surging on excellent fresh buying as the latest revival in the cash market supported the sentiments. The prices have shot up in the current week after a slide in the early part of the month as dismal export demand and a flurry of sell off in the local futures market. Spot pepper gained 259.7 rupees to 20775.3 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 21500/quintal while low of Rs 20760/quintal. Now support for the pepper is seen at 20860 and below could see a test of 20440. Resistance is now likely to be seen at 21600, a move above could see prices testing 21920.

Trading Ideas:

Pepper trading range is 20440-21920.

Pepper ended higher surging on excellent fresh buying

Support for the pepper is seen at 21100 and resistance is at 21400.

NCDEX accredited warehouses pepper stocks rose by 10 tonnes to 4306 tonnes.

Spot pepper gained 259.7 rupees to 20775.3 rupees per 100 kg in Kochi market.