Commodity Trading Tips for Pepper by KediaCommodity

Pepper April delivery gained Rs 297 and settled at Rs 25350/quintal on thinsupplies and depleting stocks. The outlook is positive in pepper because availability isweak. Demand from domestic and overseasbuyers are expected to increase gradually. Unseasonal rain in October-December affected the yield of pepper vines and is likely to slash the output this year. Pepper arrivals in Kochi Mandi decreased to 250 quintals from 400 quintals, meanwhile offtakes increased to 250 quintals from 200 quintals. Spot pepper gained 225 rupees to 24465.6 rupees per 100 kg in Kochi market. The contract touched the intraday high of Rs 25510/quintal while low of Rs 24977/quintal. Now support for the pepper is seen at 25048 and below could see a test of 24746. Resistance is now likely to be seen at 25581, a move above could see prices testing 25812.

Trading Ideas:

Pepper trading range is 24746-25812.

Pepper April contract gained on thin supplies and depleting stocks

Pepper looks to test support at 25048 and resistance is seen at 25581.

NCDEX accredited warehouses pepper stocks rose by 10 tonnes to 2866 tonnes.

Spot pepper gained 225 rupees to 24465.6 rupees per 100 kg in Kochi market.

(Source: http://www.topnews.in/commodity-trading-tips-pepper-kediacommodity-2320926)