MUMBAI (Commoditiescontrol)- Our view on cardamom right from the beginning was on the right direction and last week touched as high as INR 2500 per kg in the just concluded May contract.
Now let us move on to June contract
Last week movement---2105 and 2357
Cardamom upside was too far and within a short span of time may signal selling pressure at the recent high of around 2500 levels. Wait for the market to calm down before initiating short positions
Cardamom may retest INR 2000-1900 sooner than later.
The new crop is expected to hit the markets in the month of June/July, which is unlikely to cool own the prices, as this season’s crop is estimated far below the normal crop level.
(By Commoditiescontrol Bureau)
0 Comments 
Post Comment 
