Cardamom corrected on soft demand

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Cardamom futures opened with positive sentiments and trading sideways at August contract. Cardamom prices are likely to trade till Rs.950 per kg levels after giving upward breakout from range of Rs.930-880 per kg.

Cardamom futures are supported by tight arrivals seen in spot market against having firm demand. Participants are holding their longs with expectation of price surge due to limited supplies.

Cardamom might test Rs.950/kg as immediate resistance on higher while lower side is not expected below Rs.925 for this weekend.

Cardamom prices opened with positive note and traded sideways to positive. Prices are down by 1.05 per cent to Rs.936 per kg in futures market. Open interest for the commodity stood at 1090 lots.

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