Commodity Trading Tips for Pepper by KediaCommodity

Pepper April delivery dropped Rs 103 and settled at Rs 23611/quintal on subdued export demand but a squeeze in daily supplies and depleting stocks restricted the losses. Pepper arrivals in Kochi Mandi slumped to 250 quintals from 350 quintals, meanwhile offtakes also down to 450 quintals from 550 quintals. Arrivals started from the biggest producer Vietnam and all the eyes are watching the Vietnam situations. Indian parity continued to quote 100-150 $ per ton higher than all other verities in the global markets. Spot pepper dropped -181.05 rupees to 23037.7 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 23750/quintal while low of Rs 23509/quintal. Now support for the pepper is seen at 23497 and below could see a test of 23382. Resistance is now likely to be seen at 23738, a move above could see prices testing 23864.

Trading Ideas:

Pepper trading range is 23382-23864.

Pepper dropped on subdued export demand but squeeze in daily supplies restricted the losses

Pepper looks to test support at 23497 and resistance is seen at 23738.

NCDEX accredited warehouses pepper stocks rose by 92 tonnes to 2766 tonnes.

Spot pepper dropped -181.05 rupees to 23037.7 rupees per 100 kg in Kochi market.

(Source: http://www.topnews.in/commodity-trading-tips-pepper-kediacommodity-2319311)