Cardamom futures prices are expected to trade on positive note amid rising demand at spot front. Overall trend is also firm due to increasing demand from exporters and local buyers.
According to trade sources, arrivals are expected to decline in coming days as end of the harvesting season is approaching
Therefore, falling arrivals at spot market might also support bullish trend
Total arrivals at spot auction held in Kerala were reported around 86,238 Kg. on Wednesday
Total arrivals at spot auction till January 22nd were reported around 10,410 tonnes 6,910 tonnes arrived during same period last year
According to derivative analysis, prices and open interest have increased while volumes have declined.
It is a good indication that market is attracting late buyers & early shorts; market is vulnerable to a sharp correction but likely that that correction will be bought creating a buy point for uptrend
Cardamom MCX Feb-12 support: 655 661 resistance: 674 681 Buy at 665 TP 690 SL 645
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