Commodity Trading Tips for Pepper by KediaCommodity

Pepper February delivery gained Rs 143 and settled at Rs 23099/quintal on renewed buying interest in the counter. Arrivals from the new crop have started in some of the interior markets of Kerala but in very small quantities. In India, the third largest pepper producer in the world after Vietnam and Indonesia, the crop is harvested from December to February but this year was delayed due to unseasonal rains. Spot pepper dropped -41.2 rupees to 22388.2 rupees per 100 kg in Kochi market. The contract touched the intra day high of Rs 23200/quintal while low of Rs 22805/quintal. Now support for the pepper is seen at 22869 and below could see a test of 22640. Resistance is now likely to be seen at 23264, a move above could see prices testing 23430.

Trading Ideas:

Pepper trading range is 22640-23430.

Pepper edged higher on renewed buying interest in the counter

Pepper looks to test support at 22865 and resistance is seen at 23260.

NCDEX accredited warehouses pepper stocks gained 16 tonnes to 2091 tonnes.

SELL PEPPER FEB BELOW 22950 SL 23140 TGT 22800-22680-22560.NCDEX

Spot pepper dropped -41.2 rupees to 22388.2 rupees per 100 kg in Kochi market.

(Source: http://www.topnews.in/commodity-trading-tips-pepper-kediacommodity-2306933)