Pepper falls on profit selling

The pepper futures witnessed heavy volatility on Thursday. Futures started the day on slightly positive note on extended buying. However, prices reversed the directions on profit selling at previous gains.
Lack of active trade at spot market miss leaded the futures. Prices moved higher on speculative buying but at the time of closing Prices resumed down trend. Thus, futures ended on slightly positive note shading al the gains.
Outlook
The pepper April futures are projected to extend the positive trend on active buying interest on Friday. Fresh buying in far month contracts might support the prices to remain firm. Reports of exports inquires may also add to the upside. However, prices are likely to witness decent corrections on profit booking at higher levels during the day.
Prices quoted by India in international market moved up to $5275 per ton which was slightly higher than the prices quoted in other origins
At prevailing prices in spot exporters bought good amount of pepper which turned the sentiments towards bullish side
As per trade sources, some exporters are buying futures for taking delivery from exchange to meet their orders which might support the prices
Kerala sales tax department has tighten the transport of pepper to other states thus arrivals are remaining limited at spot market
According to derivative analysis, prices, volumes and open interest all are rising. Market is attracting larger numbers of traders willing to open positions from the long side and hold them. Traders are more confident that prices will continue to climb in favor of a working long.

(Source: http://www.commodityonline.com/futures-trading/technical/Pepper-falls-on-profit-selling-22657.html)