The MCX Cardamom futures are trading with gains for the fourth trading sessions on fresh buying and tracking firm auction rates. The MCX Cardamom futures benchmark August contract touched a new high of Rs653.30 per 1 kg. The counter currently trades at Rs644.20, up Rs3.75 per 1 kg and the open interest in the contract increased 12.18%, which stood at 267 lots as against 238, lots as on last day, indicating fresh buying.
Technical strength also supported Cardamom futures to trade higher. Technically August contract price are hovering above the short term and long term EMA’s, indicating short term and long-term trend remains bullish and MACD is approaching the positive zone, it is supporting firm trading. The rising RSI in the neutral zone is supporting the firm trading.
The Cardamom auction conducted at MAS Enterprises Ltd., Vandanmedu on Friday. The average price increased nearly Rs32 to Rs564.00 (Rs532.00 per 1 kg. The maximum price spurted nearly Rs168 to Rs743.00 per 1 kg (Rs575.00). The commodity fetched the minimum price of Rs427.00 (Rs205.00) per 1 kg. The arrivals in the auction stood at 14.30 tones (9.37 tones).
Technical strength also supported Cardamom futures to trade higher. Technically August contract price are hovering above the short term and long term EMA’s, indicating short term and long-term trend remains bullish and MACD is approaching the positive zone, it is supporting firm trading. The rising RSI in the neutral zone is supporting the firm trading.
The Cardamom auction conducted at MAS Enterprises Ltd., Vandanmedu on Friday. The average price increased nearly Rs32 to Rs564.00 (Rs532.00 per 1 kg. The maximum price spurted nearly Rs168 to Rs743.00 per 1 kg (Rs575.00). The commodity fetched the minimum price of Rs427.00 (Rs205.00) per 1 kg. The arrivals in the auction stood at 14.30 tones (9.37 tones).
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