NCDEX Pepper May Find Support

NCDEX Pepper futures are likely to find a support around Rs 13700 in today’s trade. The benchmark NCDEX February futures closed the last session at Rs 13773 per quintal with the traders selling the contract during the intraday trades.

However the February contract is likely to move up further as the expiry of the particular series would approach around a time when the domestic harvesting season is on a wane on the export demand would be peaking up.

The current profit booking, to an extent is triggered by a lull in the international markets with most of the overseas markets, particularly in Europe and US witnessing a year end lull and making the local futures market participants to close their previous longs following lack of cues.

Today’s session might also witness a suppressed activity though there is room for the counter to jump from Rs 13700 levels. Intraday players can go long around this level with a of Rs 13850 levels.