Boil the milk in a deep non-stick pan. Once it comes to a boil, reduce heat and simmer for about fifteen to twenty minutes, stirring continuously, till the milk reduces and thickens slightly.
Add the saffron, green cardamom powder, nutmeg powder and sugar and stir to mix. Simmer for two to three minutes. Add the almonds and pistachios and mix well.
Serve hot or cold.