Pepper ended down weighed by poor overseas demand and dull cues from the spot market. The long-term trend continues to be positive with limited supply in the domestic market. Spot pepper fell by 238 rupees to end at 15,192 rupees per 100 kg in Kochi, a major trading hub in Kerala. April delivery dropped Rs 378 and settled at Rs 14924/quintal. The contract touched the intra day high of Rs 15390/quintal while low of Rs 14866/quintal. Now support for the pepper is seen at 14730 and below could see a test of 14536. Resistance is now likely to be seen at 15254, a move above could see prices testing 15584.

Trading Ideas:

Pepper trading range is 14536-15584.

Pepper ended down weighed by poor overseas demand and dull cues from the spot market

India April-February pepper imports up 65% at 16,500 tons

NCDEX accredited warehouses pepper stocks rose by 20 tonnes to 2311 tonnes.

Spot pepper prices fell by 238 rupees to end at 15,192 rupees per 100 kg

SELL PEPPER APR ON JUMP @ 15100 SL 15220 TGT 15020-14960-14880. NCDEX