Cardamom futures prices are expected to trade slightly lower during early trading session. However, overall bullish fundamentals on good demand from local and export oriented buyers are likely to support the prices later in the day.
Total daily arrivals at spot auction held in Kerala were reported around 108,888 Kg. on Sunday
Total arrivals at spot auction till January 22nd were reported around 10,410 tonnes 6,910 tonnes arrived during same period last year
In current arrival season, despite of increased demand higher supply outweighed demand; but now as arrival season is coming to an end, supply-demand is becoming balanced supporting cardamom prices to trade up
According to derivative analysis, prices and volumes have declined while open interest has increased. t is a good indication that a sharp rally against downtrend will develop creating a sell point for downtrend
Cardamom MCX Mar-12 support: 753 758 resistance: 771 779 Buy at 755 TP 790 SL 727
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