{LONGTERMINVESTORS} Daily Currency Strategy (March 8): Sell US$INR in range of 67.69-67.79...

In the currency futures market, the most traded dollar-rupee March contract on the NSE ended at 67.37. The March contract open interest was down 1.05% from the previous day

 

April contract open interest was up 11.14% from the previous day

 

We expect the US dollar to meet supply pressure on rallies against the rupee. Utilise pullbacks in the US$/INR March contract to sell

 

Intra-day strategies

 

1. Sell US$INR in the range of 67.69-67.79

 

For details, click on the link below

http://content.icicidirect.com/mailimages/Currency_outlook.pdf

 

Research Desk |ICICIdirect.com|

ICICI Securities Ltd |Akruti Trade Centre, 1st Floor |Road No 7 MIDC | Andheri (East)| Mumbai 400 093 |

Email: research@icicidirect.com|

 

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