1. Place a nonstick saucepan over medium heat, add ½ cup (100 ml) water, and bring to a boil. Add the almonds and pistachios, and remove from the heat. Let the almonds and pistachios blanch in the hot water for 2 to 3 minutes. Drain and set aside to cool. Peel and thinly slice them.
2. Place a nonstick saucepan over medium heat, add the milk, and bring to a boil. Lower the heat to low and cook, stirring frequently, for 40 minutes. As the cream forms, it will stick to the sides of the pan.
3. Add the sugar and stir until it is dissolved. Simmer for 5 minutes or until the milk is reduced to one quarter of its original volume.
4. Scrape off the cream from the sides of the pan and return it to the thickened milk. Remove from the heat and stir in the rosewater.
5. Transfer to a serving bowl and decorate with the almonds, pistachios, and cardamom. Serve warm or chilled.