Cardamom futures are expected to open on positive note on good buying interest. Declining arrivals along with good demand from exporters and up country buyers are likely to support the prices.
According to trade sources, arrivals are expected to decline in coming days as end of the harvesting season is approaching. Total arrivals at spot auction held in Kerala were reported lower at 30,868 Kg. on Monday.
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, volumes and open interest have increased. It is a good indication that market is attracting larger numbers of traders willing to open positions from the long side and hold them.
Traders are more confident that prices will continue to climb in favor of a working long.
Cardamom MCX Feb-12 support: 669 676 resistance: 690 697 Buy at 680 TP 710 SL 660
Looking for a trading partner? visit commodityonline.com/franchisee
