{LONGTERMINVESTORS} Daily Currency Strategy (November 1): Sell US$INR in range of 67.10-67.20...

In the currency futures market, the most traded dollar-rupee November contract on the NSE ended at 67.08. The November contract open interest fell 9.39% from the previous day

 

December contract open interest fell 3.61% from the previous day

 

We expect the US$ to meet supply pressure at higher levels. Utilise upsides in the dollar to go shorts on the US$INR pair

 

Intra-day strategies

 

1. Sell US$INR in the range of 67.10-67.20

 

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|

 

"Print this mail only if absolutely necessary. Save Paper. Save Trees."

"The information contained in this e-mail and any attachments to this message are intended for the exclusive use of the intended recipient and may contain proprietary, confidential or legally privileged information. If you are not the intended recipient, please note that you are not authorised to disseminate, distribute or copy this e-mail or any parts of it or act upon/rely on the contents of this e-mail in any manner. Please notify the sender immediately by e-mail and destroy all copies of this e-mail and any attachments. Please also note that ICICI Bank or its subsidiaries and associated companies, (collectively"ICICI Group"), are unable to exercise control or ensure or guarantee the integrity of/over the contents of the information contained in e-mail transmissions and that any views expressed in this e-mail are not endorsed by/binding on the ICICI Group unless the sender does so expressly with due authority of ICICI Group. Before opening any attachments please check them for viruses and defects and please note that ICICI Group accepts no liability or responsibility for any damage caused by any virus that may be transmitted by this email. Thank you for your cooperation."