{LONGTERMINVESTORS} Daily Currency Strategy (July 7): Buy US$INR in range of 67.60-67.65...

In the currency futures market, the most traded dollar-rupee July contract on the NSE ended at 67.69. The July contract open interest declined by 2.7% from the previous day

 

August contract open interest was up 6.40% from the previous day

 

We expect the US dollar to meet demand pressure on declines against the rupee. Utilise declines in the US$/INR July contract to buy

 

Intra-day strategies

 

1. Buy US$INR in the range of 67.60-67.65

 

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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