Pepper ended lower on rising arrivals and dull overseas enquiries. In India and Vietnam traders are not willing to sell at lower prices.

But at the same time, demand is also not that strong. Both these factors are holding prices in the very narrow range.

Spot pepper gained 24 rupees to end at 13,096 rupees per 100 kg in Kochi. April delivery dropped Rs 85 and settled at Rs 12920/quintal. The contract touched the intra day high of Rs 13072/quintal while low of Rs 12905/quintal.

Now support for the pepper is seen at 12859 and below could see a test of 12799. Resistance is now likely to be seen at 13026, a move above could see prices testing 13133.

Trading Ideas:

Pepper trading range is 12799-13133.
Pepper ended lower on rising arrivals and dull overseas enquiries
Resistance for pepper is seen at 13025 and support is at 12800.
NCDEX accredited warehouses pepper stocks seen at 2738 tonnes as on Mar 13.
Spot pepper gained 24 rupees to end at 13,096 rupees per 100 kg

Courtesy: Kedia Commodities

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