Commodity Trading Tips for Pepper by Kedia Commodity

Pepper March delivery gained Rs 267 and settled at Rs 23144/quintal due to lower supply while depleting stocks also supported the rise. Pepper arrivals from the new crop have started in the spot markets in Kerala, but prices are unlikely to fall sharply in coming months on thin supply and lower domestic stocks.

Pepper production is expected to come down this year due to unseasonal rains. Spot pepper gained 18 rupees to 22463.3 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 23146/quintal while low of Rs 22927/quintal. Now support for the pepper is seen at 22999 and below could see a test of 22853. Resistance is now likely to be seen at 23218, a move above could see prices testing 23291.

Trading Ideas: Pepper trading range is 22853-23291. Pepper ended firm due to lower supply while depleting stocks also supported the rise Pepper looks to test support at 23000 and resistance is seen at 23300 NCDEX accredited warehouses pepper stocks rose by 60 tonnes to 2307 tonnes. Spot pepper  gained 18 rupees to 22463.3 rupees per 100 kg in Kochi market.

(Source: http://www.topnews.in/commodity-trading-tips-pepper-kedia-commodity-2310527)