Cardamom on MCX settled up by 1.01% at 944.4 on anticipation of decline in output following a delay in harvesting at the producing belts. The arrivals continued to show a downtrend as the harvesting has been delayed and almost 90 % of material arriving at present is from the stocks held by growers/primary market dealers.

 As a result, the material held from the previous crop would get liquidated before the harvesting begins in its full swing. Only 10 %of the arrivals are from the fresh picking which is taking place in some small pockets that have received isolated showers.Get Live Indian Stock & Share Market News Updates Visit Us www.ripplesadvisoryx.com/freetrial.php or Get Free Trials Just Give One Missed Call @98-27-80-80-90.

The extended dry spell with high temperatures that prevailed from December 2015 to the first fortnight of May 2016 affected the flower setting, thereby delaying the harvest. Technically market is under fresh buying as market has witnessed gain in open interest by 7.51% to settled at 1646 while prices up 9.4 rupee, now Cardamom is getting support at 938 and below same could see a test of 931.6 level, And resistance is now likely to be seen at 948.9, a move above could see prices testing 953.4.  

 At the MCX, Cardamom futures for August 2016 contract is trading at Rs 948 per kg, up by 0.33 per cent, after opening at Rs 952.90, against a previous close of Rs 944.90. It touched the intra-day high of Rs 953.