Cardamom futures prices are expected to continue the positive trend on good domestic and export demand. Arrivals season is coming to an end, therefore fall in arrivals are likely to support the prices in near term.
Total arrivals at spot auction held in Kerala were reported around 1,06,703 Kg. on Thursday
According to data released by Spices board, cardamom exports during Apr-Nov, 2011 were up by 444% to 3,100 tons against same period in last year
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 695 SL 641
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