Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as investors widened their bets in the agri-commodity amid a pickup in physical demand for Cardamom in the domestic spot market.

 At MCX, Cardamom futures for August 2016 contract is trading at Rs 918.40 per kg, up by 0.34 per cent, after opening at Rs 917, against a previous close of Rs 915.30. It touched the intra-day high of Rs 921.

 Cardamom on MCX settled up by 2.66% at 915.3 on account of good buying support from both exporters and upcountry buyers. Upsurge continued in small cardamom prices on good demand following apprehensions about scarcity in the coming days, at auctions held last week in Kerala and Tamil Nadu. 

                                    Technically market is under fresh buying as market has witnessed gain in open interest by 10.94% to settled at 1176 while prices up 23.7 rupee, now Cardamom is getting support at 897.9 and below same could see a test of 880.4 level, And resistance is now likely to be seen at 925.6, a move above could see prices testing 935.8.      

                                   Trading Ideas 

• Cardamom trading range for the day is 880.4-935.8.      

• Cardamom prices ended with gains on account of good buying support from both exporters and upcountry buyers.    

• Cardamom prices in spot market dropped by 12.10 rupees and settled at 895.00 rupees.