Black pepper futures extended early losses and closed down sharply following heavy selling by traders and speculators during intraday session on the NCDEX. Benchmark November contract ended down Rs 222 at Rs 13,850/quintal.
November contracts 3979 tonnes. Now support for the pepper is seen at 13740 and below could see a test of 13630. Resistance is now likely to be seen at 14040, a move above could see prices testing 14230.
Trading Ideas: TRADING RANGE IS 13630-14230.
BUY PEPPER NOV ABV 13940 SL 16880 TGT 13984-14056-14122-14178. NCDEX
Courtesy: JRG Wealth Management
