Black pepper futures enlarged recovery of the morning hours and settled sharply up with around two per cent gains following short covering and fresh buying by traders and speculators during intraday session on the NCDEX Tuesday. NCDEX August black pepper jumped Rs 291 to settle at Rs 15,002/quintal. Benchmark September contract ended up Rs 287 at Rs 15,350/quintal. Volume in July and August contracts was 8003 tonnes and 7009 tonnes respectively. Now support for the pepper is seen at 14751 and below could see a test of 14501. Resistance is now likely to be seen at 15191, a move above could see prices testing 15381

Trading Ideas:

TRADING RANGE IS 14501-15381.
BUY PEPPER AUG @ 14800-880 SL 14740 TGT 14940-15000-15090-15224. NCDEX