Pepper ended up as firm spot demand supported sentiment. Lower availability of stocks kept demand firm and subsequently pushed prices up. Gains were, however, capped by reports of sufficient rainfall in growing regions of Kerala, the main producer of the spice.
Spot prices in the Kochi market fell 58.7 rupees to 12,600.45 rupees per 100 kg. Now support for the pepper is seen at 12417 and below could see a test of 12338. Resistance is now likely to be seen at 12557, a move above could see prices testing 12618.
Trade commodities or equities from across the globe. Join NowTrading Ideas: Pepper trading range is 12100-12800.
Pepper ends up on domestic demand.
Spot prices in the Cochin market fell 58.7 rupees to 12,600.45 rupees per 100 kg.
Buy pepper July above 12522 SL 12415 TGT 12565-12622-12680-12745.
Buy can be expected near to 12300-12325 level.
Courtesy: Kedia Commodities
